just a heads up before the heads upbell potter has today...

just a heads up before the heads up

bell potter has today reiterated their buy recommendation on PRC with a 5 page report and a price target of NZ 1.08.

got a feeling the imminent fx realignment adds to other reasons to go long on asx listed PRC. recent move to aud/nzd 1.29 surely limits downside

buying now will get u a tilt at the upcoming rights issue (it could alternatively turn out be a placement)
which is very well supported by underwriters and nzog. with such solid support from nzog the issue of the issue is really not an issue lol

the chart shows what a good call the last raising was for punters, upon completion (may 09) PRC went vertical from 60c to 90c and then to $1. repeat?

dont expect another opportunity as surely this funding will see them through to full production. btw i know everyone is talking 1mtpa but it may well be 1.3 going to 1.6 since port and rail contracts do allow for that.
so i see upside from fx, tonnage and coking coal price.
holding very tightly.