From Research Note released today on DRG/CEO:
"Draig is an early-stage exploration company. Our TP of AUD0.80/share is based on an assumption that the company identifies 150mnt (112.5mnt attributable) of coal across its exploration tenements and assumes an EV/resource multiple of USD0.50/t. The blue-sky scenario, however, is eventual development of a 5mn tpa, semi-soft coking coal mine at Teeg in Ovorhangay province; we estimate such an asset could be valued at up to AUD553mn or c. AUD8/share, assuming no further dilution. This is nevertheless dependent on identifying sufficient resources with coking properties."
From Research Note released today on DRG/CEO:"Draig is an...
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