fyihttp://www.bby.com.au/bby-insights/flinders-mines/Flinders...

fyi

http://www.bby.com.au/bby-insights/flinders-mines/

Flinders Mines resumed trade today after confirming that takeover suitor MMK filed a motion seeking a discharge of the injunctive relief received by a minority shareholder of MMK restraining the company’s acquisition of Flinders. Following recent price weakness, BBY Analysts’ Mike Harrowell and Kurt Worden last week upgraded their recommendation on the stock to a STRONG BUY, with an unchanged price target of A$0.30/sh and NPV of A$0.59/sh. “Even if the MMK bid falls away, we think the asset is strategically significant,” Mr. Harrowell wrote in a note to clients. “Since the bid was announced on 25th November 2011, FMS has received its mining lease, the iron ore price has increased, and barriers to entry in the Pilbara have fallen.”