HHR 0.00% 0.7¢ hartshead resources nl

edison report

  1. 3 Posts.
    This at the start of the Edison Report today...

    Valuation disconnect clearly evident
    Despite recent gains, equity markets continue to excessively discount explorers
    and in particular small caps with poor liquidity and little or no asset diversity. This
    can be seen across multiple analyses including comparisons with DCF-risked
    resource valuations, analyst consensus target prices and, probably most
    significantly, industry terms determined from farm-outs.
    Large price multiples on offer even on a risked basis
    When considering net risked resource valuations we see substantial upside to
    current share prices across the peer group, although not surprisingly there is wide
    variability in our results. Pura Vida Energy and Tower Resources are probably the
    standout names, with Pura Vida offering 20x upside (even on a risked basis) from
    its Moroccan activities alone, while Tower is targeting an eye-watering 9.9bnboe
    (gross) from a single well (Welwitschia-1).
 
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