buy recommendation by westpac research, page-7

http://www.proactiveinvestors.com.au/companies/news/45820/perilya-limiteds-soaring-shares-attracts-asx-attention-45820.html

Perilya Limited (ASX: PEM) shares have soared 62.5% to $0.195 intra-day today, compared to the closing price a fortnight ago - with the company receiving an ASX 'speeding ticket' in the form of a Price Query.

Perilya said that it had no explanation for the recent investor interest, but did note in a response back to the ASX that the lower Australian dollar value against the US dollar has a positive impact on revenue.

The company operates the Zinc, Lead and Silver mine in Broken Hill, and the Cerro de Maimón Copper, Gold and Silver mine in the Dominican Republic.

The Cerro de Maimón mine produced 2,573 tonnes of copper for the March quarter 2013, while gold and silver production outperformed this period with a total production of 4,193 gold ounces (+35%) and 97,930 silver ounces (+24%).

Actual net C1 cash costs for the period was US$0.85/lb of payable copper in-line with full year guidance of US$0.80 – 1.00/lb of payable copper.

For the year ending December 2012, Perilya produced a net profit after tax of A$27.72 million, and a strong net operating cash flow of A$65.19 million on the back of operating revenue (net of treatment & refining charges) of A$353.79 million.