Hi, fellow sufferers. BND is in this morning's Before the Bell:...

Hi, fellow sufferers. BND is in this morning's Before the Bell: Broker Watch, with UBS reiterating BND as a buy, with a price target of $1.80. Link for members:

http://www.afr.com/p/markets/global_equities_rebound_drifts_lower_XT8hfSMY16sQ5CFTudEl3J#U502079550416XWF

UBS says global volatility, along with no new good news, has pushed gthe SP down by almost 50% in 8 weeks. The broker notes notes the gap between valuation and share price.

News on the outcome of the strategic review, which may include an asset sell-off, as well as clarity on the Dingo West project, for which maiden reserves are due by the end of the year, provide risks to the valuation.

Analysts are also waiting for financial close regarding the Wiggins Terminal, which is due this month. Bandanna has an allocation of 8m prioroty reserve tonnes, each year.

BND is not yet in production, and the $4m loss was "slightly higher than expected" (UBS expected the loss to be $3m). The company recently raised $100m in equity, and has $66m in cash from which capex and payments to secure infrastructure will be drawn.

Good luck, holders.