pattersons buy

Other buy signal from brokers

Tamaya Resources
Patersons
Buy.

PATERSONS waded into Tamaya coverage with a "buy" recommendation in its first crack at covering the stock. Patersons calls Tamaya a niche mid-cap miner offering "here and now" cash flow. Patersons, which received $3.25 million in cash and Tamaya scrip for its part as corporate adviser in the Iberian takeover, is particularly keen that Tamaya has exceptional copper price leverage through its expanding portfolio of assets in Chile. Patersons also likes the Tamaya management team and is confident that it can expand production at the Punataqui copper project to 13,000 tonnes of copper concentrate per annum, starting some time in the first three months of next year. "A 10 per cent increase in our assumed copper price correlates positively with a 14 per cent increase in our discounted cash flow valuation," Patersons analyst Josh Welch told clients.