Research Capital Research - Sydney based - have released a 20-page EKM report dated November 2nd. Below is a screen grab page 1 summary.
It's meaty and worth getting. A visit to their website will probably reveal a link to this freeby.
They arrive at a valuation of 38 cents per share which is on-the-money (so far) if you consider this week's High was 39.5c and the Close yesterday was 35c. BUT, and it's a big BUT, that valuation would have assumed bullion at 1,350/oz. As we know, gold put in an 'eleckrifying' advance o'nite. And there's more to come.
The report does a thorough valuation analysis over 2 pages plus a peer review versus AZM where RCR arrive at an EV/Resource number of AUD 138 for AZM and 92 for EKM.
Research Capital Research - Sydney based - have released a...
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