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The announcement of a maiden resource at its 100%-owned Magnum deposit provides a solid foundation for a significant resource base at junior explorer Antipa Minerals’ Citadel project in the Paterson province of Western Australia, according to broker Taylor Collison.

Spitfire Resources is potentially Australia’s next manganese miner, on the back of its flagship Woodie Woodie South manganese project in the eastern Pilbara of Western Australia.

With production from its 51Mlb US uranium project targeted for next year and another 30Mlbs earmarked in South Africa, Dutch-based advisor Uraniumletter Int’l sees Peninsula Energy as substantially undervalued, particularly when compared to existing producers.

A maiden Q3 2012 resource at the Bullamine magnetitie iron ore project in Western Australia, targeting 50Mt-70Mt at over 20% Fe, could give 25% partner Reedy Lagoon Corp a project premium valuation of $A10M-$15M.
The project is being run by big US global iron ore producer Cliffs Natural Resources, which is sole funding it through feasibility study completion.

Resource Capital Research: IMX Resources Ltd (ASX: IXR)
Recommendation: None.
Price target: Not given, but Continential Nickel takeover values IMX at $A1.6BM, or 46cps, a 61% discount to current 18cps.
Nachingwea nickel/copper project in Tanzania seen as the new jewel in IMX’ asset crown

Foster Stockbroking: Black Range Minerals
Recommendation: Speculative buy.
Price target: initial $0.07ps.
60 nuclear plants under construction, 163 more planned, sets stage for uranium price revival.

Resource Capital Research: Latin Resources Ltd (ASX: LRS)
Recommendation: Solid share price performance should continue into 2013.
Price target: Not given.

Old Park Lane Capital: TNG Limited (ASX:TNG)
Recommendation: Buy
Price target: $A0.45
Transaction with Chinese groups ECE and Aosu leaves TNG cashed up for growth.

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.


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