Target Price 118 pence (1.92 AUD) - align research

https://www.investegate.co.uk/prair...h-initiation-of-coverage/201709050715007932P/

- Management has proven expertise in project development & financing

CEO Ben Stoikovich is an ex-BHP coal mining engineer/investment banker whose skills have helped get Prairie where it is today. Managing operations in Poland is Miroslaw Taras, the ex-CEO of the neighbouring Bogdanka coal mine which he turned into Europe's lowest cost coal producer.

- DCF analysis reveals potential upside of 250%

Discounting forecast cash flows from the two planned coking coal mines and assigning what we consider to be highly conservative risk factors gives a target price of 118p. We thus initiate coverage of Prairie Mining with a Conviction Buy stance.

PDZ absolutely flying under the radar.