BANDANNA ENERGY (BND) Buy Bandanna Energy has thermal coal assets in the Bowen and Galilee Basins in Queensland. Recent feasibility studies show BND's three Bowen Basin projects all have a materially positive net present value. BND will now undertake to define these projects for development and financing. Port and rail access for the Springsure Creek and Arcturus projects has been secured. On the back of the news and improved thermal coal prices, Intersuisse has increased its base valuation for BND to $3.63. The broker maintains its "buy" recommendation for BND as the company seeks to get greater value from its portfolio of assets. BND shares closed yesterday at $2.19.
BND Price at posting:
$2.17 Sentiment: None Disclosure: Held
