This broker upgrade from UBS (who acted on the capital raising)
Riversdale Mining In a note from UBS, it upgraded Riversdale Mining after a $337 million capital raising to help fast-track the development of its Benga coal mine in Mozambique. UBS believes Riversdale is in a prime position in Mozambique, an emerging source of coking coal, and notes its potential as an acquisition target. The broker reckons Riversdale's coking coal exposure, sizable resource base and large tenement position in an emerging coking coal region makes it attractive to potential corporate acquirers.
