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http://www.directorstalk.com/balamara-resources-fox-davies-capital-enhancing-the-monty-project/

Balamara Resources (BMB AU) Mining Flashnote 6 August 2013 This is a marketing communication. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research. Non-US research analysts who have prepared this report are not registered/qualified as research analysts with FINRA, may not be associated persons of the member organisation and may not be subject to NASD/NYSE restrictions on communications with a subject company, public appearances and trading securities held by a research analyst account. Disclosures can be found at the end of the report. Fox-Davies Capital Stock Data Share Price: A$0.11 12 M. Target Price: NA Market Cap (M): A$36.1 EV (M): A$34.2 Enhancing the Monty Project Eventven Balamara has released further assay results from its on-going resource in-fill and update drilling at its Montenegro Base Metals Project (“Monty”). These new results lay the foundations for a further upgrade in the JORC Mineral Resource for the Monty Project, for which Balamara has commissioned Golder Associates to commence work. Comment Comment Following the release of the first of the results of the initial six drill holes on the 28th February 2013, the results have been released from the last five holes in the eleven hole programme. The latest results outline consistently broad zones of mineralisation, with the mineralisation remaining open to the north – highlighting the potential for Visnjica and the adjoining Zuta Prla deposit to join up to form a single large system. We like the fact that there are good, wide intercepts being reported and all the results are relatively shallow, whilst within the wider intercepts there are mineable intercepts of significantly higher grade ore. Visnjica is a tabular, flat-dipping deposit comprising moderate grade zinc-lead mineralisation that was drilled historically from the late 1970s to early 1980s. The latest Visnjica drill results are broadly consistent with but slightly better than the historical data, especially with respect to silver. Holes V16-12, V18T-12 and V20-12 returned very thick intersections in the north and north-eastern part of the deposit. These intercepts are 16 am and 256m, 17m and 42m and 29m and 20m respectively. The most recent drilling has in-filled Visnjica over the major part of the historical drilling and a resource upgrade for Visnjica can now be undertaken. This is likely to result in a substantial percentage upgrade of the Inferred Resources to Indicated status and also a possible small increase in the size of the overall resource. At the Brskovo deposit, new drill hole results have been released for three holes. Drill hole DH17A-12 had to be abandoned for technical reasons not long after it entered the ore zones and a replacement hole DH17B collars being within two metres of each other. These results confirm the continuity of highly mineralised zones beneath the historic open pit at Brskovo with mineable widths grading better than 6% metal plus precious metal credits. Recommendation Recommendation Whilst we view this project and announcement very positively, we are refraining from publishing a target price until the results of the current fully Underwritten Rights Issue are published. - See more at: http://www.directorstalk.com/balamara-resources-fox-davies-capital-enhancing-the-monty-project/#sthash.vBSC1gmC.dpuf