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Mining Brokers

RM Research
Recommendation: Speculative buy.
Price target: 81c
Latest drilling points to good potential for a resource upgrade at Pan Asia Corp’s TCM Coal Project in S Kalimantan, Indonesia, says RM Research.

D J Carmichael: Kingsrose Mining
Recommendation: Buy
Price target: $1.56 per share
Despite a bad March 2012 quarter and no improvement expected until the 2nd half of this year, D J Carmichael has increased its share price valuation for Sumatran gold miner Kingsrose Mining and maintains its “buy” recommendation.

Shaw Stockbroking: Greenland Minerals and Energy
Recommendation: Buy
Price target: $2.25ps from prev $1.80ps.
World class $US1.53B Kvanefjeld rare earths and uranium project in Greenland comes up trumps for Greenland Minerals and Energy.

Breakaway Research: Blackham Resources (ASX:BLK)
Recommendation: Spec BUY
An emerging gold story in a proven mining district

Patersons Securities: Dragon Mining (ASX:DRA)
Recommendation: Buy
Price target: $A2.17
Dragon faces a tough June half 2012 as continued high costs associated with the Svartliden cutback and lower production at Vammala impact profit margins.

Dahlman Rose: Continental Coal (ASX:CCC, AIM:COOL)
Recommendation: Buy
Price target: $A0.35
An emerging mid-tier thermal coal producer in South Africa strategically well-positioned to benefit from increasing demand for Asia-Pacific thermal coal

DJ Carmichael: Lindian Resources Ltd (ASX:LIN)
Recommendation: Speculative Buy
Price target: $A0.30 (12 months)
The latest drill results confirming the discovery of a supergene copper-gold-silver zone at Sabang at economic grade is a game changer for Lindian Resources.

RM Research: Ventnor Resources Limited (ASX:VRX)
Recommendation: Speculative buy
Price target: $A1.00 in 12 months
Maiden resource at Thaduna and Green Dragon are now due in March quarter 2013.


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