BANDANNA ENERGY (BND)BuyBandanna Energy hasthermal coal assets...

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.