It's a strong buy at $1.26 the report screams. However, I think MPS have learnt a little from their Cudeco debacle, and are being a tad more circumspect with their targets.
As denpal points out, I suspect that the eventual share price will be well in excess of the MPS targets.
From the the shareholder update issued on 23 Jan 07:
'Shortly, the PFS mining study will be completed and your company will be able to estimate the resource’s reserve potential, which together with the mining rate will enable an initial mine life to be estimated. A definitive feasibility study will then be undertaken, with the time frame for this study to be determined by the current PFS.'
And from the Quarterly report issued on 31 Jan 07:
'The priorities of the Company for the March quarter are to: - Complete the prefeasibility study for the development of the Woodlawn Underground Project;'
Given that we are already one weeks into March, we should have in the PFS out in the coming weeks and combined with the MPS report and a very thin sell side, hopefully we will see a significant re-rating of the TRO SP in the coming days and weeks.
TRO Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
