intersuisse - buy up to 85c

See link here from broker Intersuisse recommending a buy on MGX up to 85 cents. Thats 25% higher than todays close. This 85 cent recommendion from a couple of weeks ago, came prior to MGX release last week, beating previous guidance for 2004/5, and 50% production ramp up from 2007.

http://www.intersuisse.com.au/upload/BourseWIN05.pdf

The report from Intersuisse is significant. First time we have seen any truely independant research on MGX. When you read all these bullish reports around the place for small caps, it because these houses are payed by the company to present research. What we have here is different.

Intersuisse say MGX will be on a PE of 5 from 2006. That makes their 85 cents recommendation cheap, but what is the point for Intersuisse going with a recommendation higher than 25% above the current share price.