Article from The Australian: Deutsche Bank backs copper hopeful...

Article from The Australian:

Deutsche Bank backs copper hopeful Alderan Resources

• The Australian
• 2:05PM September 11, 2017
• Resources reporter
  Perth
  @PDGarvey

It’s not often you see one of the big investment banks link up with a junior resources play barely three months old, but Data Room can reveal that heavyweight Deutsche Bank is behind the investor roadshow that appears to be putting a rocket under copper hopeful Alderan Resources.
Alderan (AL8), which only listed on the ASX in June after raising $8.5m through an IPO led by boutique group BW Equities, has been the best-performed IPO of the year as its shares have soared from 20c to a fresh high yesterday of $1.55.
The surge has taken its market capitalisation to just over $140m, significant for the junior end of the market but still below the sort of level that would normally be required to catch the attention of one of the big investment banks. The company’s exploration work is still in its infancy, having just started drilling at its Frisco copper project in Utah.
Deutsche’s interest, however, is likely to stem from the involvement of Tolga Kumova, the former stockbroker behind graphite success story Syrah Resources (SYR). While Kumova isn’t on the board of Alderan, he is the group’s major shareholder and is seen as closely linked to the company’s management.
While at Syrah, Kumova was responsible for not one but two big equity raisings through Credit Suisse. Maybe Deutsche see similar long-term raising potential in Alderan?
The Deutsche roadshow, which will put Alderan in front of investors in Sydney and Melbourne, appeared to be working well for Alderan today. At 2.22pm (AEST), Alderan shares were up by more than 13 per cent at $1.50 and a re on track to close at a record high.