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A look over new Brazilian-focused Australian gold hopeful Paringa Resources, now awaiting an ASX listing after raising $A10M from 33.3M IPO at $0.30ps

London investment bank SP Angel believes the basement valuation for Cameroon iron ore hopeful Afferro Mining is some 55% higher than its current £0.775 share price would imply.
Afferro is in the throes of completing a prefeasibility study on its Nkout project that has set its sights on a 15-35Mt operation kicking off in 2017.

IFM was dealt a blow on Friday when the market reacted poorly to a disappointing set of numbers in its latest trading update, according to Numis Securities

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.


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