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EAR

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32.5¢ echo resources limited

Mark Creasy takes stake in Echo, page-2

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ASXcowboy

6,222 Posts.

516

09/03/17

11:39

Post #: 23212970
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Originally posted by cdchi1 ↑

I managed to finally grab a Top 40 shareholder post placement list. Some interesting names in there, but the most important one at number 25 was Yandal Investments, which is Mark Creasy's investment company. He took $500k in the recent placement.

Mark Creasy is ofc the father of Bronzewing and if anyone knows its potential, it's him.

Also, BW equities today issued new research on Echo Resources, with a SP target of 32c. They have gone into EAR very heavily, just like they did with Blackham Resources when it was still single figures.

Here is the brief investment recommendation from their research report:

BUY Rating – 6-9 month price target of $0.32
Now that Echo has acquired the Bronzewing processing plant
through the takeover of Metaliko and completed the Julius BFS, risks
are rapidly reducing. In addition Echo has aggregated some of the
best underexplored gold tenements in Western Australia through its
now dominant position in the Yandal Greenstone Belt.
The current market capitalisation recognises that Echo has a number
of the pieces in place to move toward a mid-tier gold production
status. But in our view is still discounting the rapid progress Echo is
making to establish the critical mass of gold Reserves sufficient to
make a decision to commence gold production.
BW’s 6-9 month price target of 32c/share anticipates Echo can build
that critical mass of gold Reserves, enough for 3-4 years production,
ahead of a decision later this year to refurbish the Bronzewing
processing plant to starting gold production in mid 2018. The
assumptions behind this valuation are set out in this report.

Cdchi1

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BW have been pretty hot lately. Our turn must be near.

How many does #40 hold?

EAR Price at posting: 18.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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