I found a new article I thought people would appreciate.Anvil...

I found a new article I thought people would appreciate.


Anvil Mining An "Inexpensive Copper Growth Story":R. James

27 July 2007

Dow Jones News Service
Courtsey of Dow Jones & Company, Inc.

TORONTO (Dow Jones)--Raymond James initiated coverage of Anvil Mining Ltd. (AVM.T) at strong buy with a C$26 target, calling it "an inexpensive copper growth story."

In a research report Friday, analyst Tom Meyer said he considers Anvil the "go to" name for Congo copper production and exploration exposure, adding that he estimates Anvil will double its 2007 production by 2010. He cited the prospectivity in and around Anvil's current operations and development projects and the likelihood that the Kinsevere SX/EW plant will ultimately expand to the 120,000-metric-ton-a-year level by 2012.

He also said the company's "entrepreneurial" management team and the experience it has gained over the past few years will serve the company well as it embarks on larger projects.

He believes some political diversification away from the Congo and into other regions is a reasonable possibility, given the company's "strong balance sheet, stable and growing cash flows," and its capable management team. A less-risky political situation will likely provide a lift in valuation, he said.

Meyer also believes that Anvil shares are undervalued, given the company's "significant production growth profile."

Anvil's shares are trading at C$17.95 in Toronto Friday, up 2.5%.

Raymond James doesn't have an investment-banking relationship with the Montreal mining company, and Meyer doesn't own shares of Anvil.