Extracted comments from this morning notes from Shaw Stockbroking:
Exco Resources
Value Compelling
Target 80c
Spot valuation is $1.60
EXS recently announced impressive drill results from Salebury ? we anticipate growth in resources ? several rigs active in the area ? we believe that value of the ground is further indicated by the recent results.
We still believe that a deal on the CCP with one of the active players in the area is highly probable and could lead to a substantial re-rating of EXS. Our valuation of 81cps is based on relatively conservative price forecast (Cu @ US$2.61 vs spot @ US$3.50 lb and gold at 10% below spot for the next 2 years US$850 long term).
Extracted comments from this morning notes from Shaw...
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