GS JB Were upgraded their short term recommendation to OUTPERFORM (was Marketperform) following the Quarterly report.
The closure on the financing of the Phu Kham development should result in a re-rating. Similar to the impact it had on Oxiana and Equinox once their funding requirements were satisfied.
The quarterly report shows that the gold operation is moving along as planned.
Their valuation is 40c - 48c.
SP up to 37.5c already in morning trade.
PNA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
