DJ Is a Sale of Tiger's Kipoi Mine on the Cards? -- Market Talk
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TGS
$0.087-$0.001 (-1.1%)
$0.087$0.09
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15 Jun 2015 12:05:50
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0205 GMT [Dow Jones] UBS wonders whether Tiger Resources (TGS.AU) is mulling a sale of its Kipoi copper mine in the Democratic Republic of Congo. The mining company's main option up to now had been a refinancing of its existing debt, underscored by talks with its lending syndicate being advanced. "However, we are concerned that (management's) comments regarding refinancing only being an option if available on acceptable terms are a precursor to management not going ahead with the proposed transaction," UBS analyst Jo Battershill says. "In this case, a sale of Kipoi could be on the cards." UBS rates Tiger a buy, but notes that a key aspect of its A$0.20/share valuation and investment thesis is a completion of the Kipoi mine expansion to 50,000 tons of copper per annum. It believes the mine expansion is a high-return project. TGS last traded at A$0.09. ([email protected]; @dwinningWSJ) Editor: KLH
(END) Dow Jones Newswires
June 14, 2015 22:05 ET (02:05 GMT
TGS Price at posting:
8.7¢ Sentiment: None Disclosure: Not Held
