shaws stockbrokers join the hdr fan club Shaws have initiated...

shaws stockbrokers join the hdr fan club Shaws have initiated coverage of HDR with a buy recommendation (just like every other broker who has looked at this stock).

The report is very bullish. They expect Ching to come in at 140 mmbls. They gave the following value ranges

cash 0.10
ching 0.39-0.71
banda 0.17-0.46
woododa 0.04
jingemia 0.05-0.09
exploration 0.04-0.07
TOTAL 0.78-1.46

The figures look OK to me except the 4-7 cents for exploration. This is hilarious considering that Ching & Banda represent only 2 of over 90 leads in Mauritania. Not to mention the other excellent prospects in Uganda, Surinam and closer to home in Twin Lions WA. A conservative valuation of exploration prospects would put HDR well into the $2-$5 range.

Traders please exit and let the long termers reap the rewards.