more analyst updates, page-8

from Shaws earlier this week

MORNING COMMENTS SNAP SHOTS

Idea of the Day

EXCO RESOURCES (EXS) @ $0.53 ST: Buy

* White Dam gold project delivers well above projected output and costs.

* EXS repays Barclays gold loan 7 months ahead of schedule.

* Region drilling is expected to extend life of mine to over 4 years.

* Cloncurry copper / gold expected to have fully DFS completed within next 2 months.

* Ore reserves provides ~10 years development, less than half of total resource base.

* This is an exceptional stand-alone project with NPV over $400m at current spot commodity prices, equivalent to $1.15/share?more than twice current share price not including White Dam project.

* Price Target: $1.12.