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The market is watching with interest for maiden resources this month for WAF’s 2 advanced Burkina Faso gold projects

Kasbah Resources (ASX: KAS): Hartleys
Recommendation: Speculative Buy
Price target: Valuation 30cps, 12-month price target 37cps.
The Achmmach Tin Project in Morocco is shaping up as a winner for Kasbah as new, positive exploration results continue to role in.

Hastings Rare Metals (ASX: HAS): RM Research
Recommendation: Speculative Buy
Price target: $A0.22c over next 12 months
Hastings project -- fast-tracking 10,000tpa of high purity rare earths/rare metal oxides for 25+ years -- could be producing in 2016.

Fresnillo has won the approval of London investment bank Numis Securities following the release of strong third quarter production results that point to a better than expected full year result from its Mexican operations.
“Another strong quarter with 9.375Moz silver (10.3Moz including Silverstream) and 127koz gold, a beat on our forecast 9.1Moz silver and 110,000oz of gold,” senior analyst Cailey Barker said.

Finnish nickel producer Talvivaara Mining’s third quarter production results were mixed but considered an overall negative by Numis Securities senior analyst Cailey Barker. He described the performance as “another disappointing update” and remained wary of the stock.
“Production of 4030t nickel and 7184t zinc is overall better than our forecast 3600t nickel and 7800kt zinc,” Barker said in a morning note.

West African Resources (ASX: WAF): Hartleys.
Recommendation: Speculative buy.
Price target: A0.39c over 12 months.
Watch for new results in coming months as West African Resources’ Boulsa Project drilling builds to a maiden resource.

The return of market interest in ASX-listed junior explorers after the aggressive sell-downs of risk stocks for much of 2012 is a positive for companies such as Dourado Resources as it recommences exploration at its Mooloogool-Diamond Well tenements in Western Australia.

The latest results from resource drilling at Australian miner Tanami Gold’s Central Tanami project in the Northern Territory has encouraged broker Hartleys Limited to rate the stock a speculative buy with a 12-month price target of $A1.49.
The drilling at the flagship Groundrush deposit intersected more wide zones of high-grade mineralisation in multiple holes. After recently updating the resource estimate for Groundrush to 5.1Mt @ 4.5g/t Au for 743,000oz, Tanami’s next resource upgrade is due late 2012/early 2013.

The early success of Galaxy’s lithium carbonate plant in China set to provide substantial profitability next year, underwriting a big jump in its target share price.

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