I agree that RIA has been totally oversold by the market. I also note that new broker research has been posted on the RIA website. GMP Securities, in broker research dated 31 Oct 2012, have maintained their buy rating with a 90c (60P) target with progression to a field development (Gazelle) to unlock the value of RIA’s significant resource base. Considering the high level of broker support, I'm amazed how this company's share price is at record lows. Key catalysts include finding a JV partner / funding mechanism to bring the Gazelle field into development and to fund its 2013 exploration campaign. Completion of this, an updated CPR, development plan and FID will provide key catalysts. Positve news on this front may well lead to significant upside in the sp.
RIA Price at posting:
9.7¢ Sentiment: None Disclosure: Held
