RM capital have increased their valuation on moto to $1. They state that Moto represents one of the most outstanding buy recommendations among junior gold companies on ASX/TSX !!!
"Originally featured in Markets Desk in May with a BUY recommendation at $0.40, the stock has since moved upwards towards our 12 month target price of $0.83 and is now trading at $0.80. We have increased our 12 Month Target price to $1.00. We are again initiating coverage of the stock as we still believe that Moto represents one of the most outstanding buy recommendations among junior gold companies on ASX/TSX.
Highlights • Moto Gold project, the companies principal asset is situated in the Democratic Republic of Congo. • Recently upgraded resources to 11.1 Million ounces • Strong cash reserves • Feasibility study due for completion end of 2006 • Potential for +15 Million ounce gold resource. • Over 4,700 km of prospective acreage to explore. • Potential takeover target. • Addition of African Project expertise to board- Sir Samuel Jonah, Jeffrey O’Leary and David Hodgson"
MOE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
