Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ERDENE RESOURCE DEVELOPMENT. We currently have 0 research reports from 0 professional analysts.
|21Mar17 12:45||MKW||Erdene Closes Private Placement|
|16Mar17 13:20||MKW||Erdene Announces Private Placement|
|23Feb17 17:30||MKW||Erdene Closes Oversubscribed $13.8 Million Bought Deal Financing|
|31Jan17 15:23||MKW||Erdene Increases Previously Announced Bought Deal Financing to $12 Million|
|30Jan17 21:00||MKW||Erdene Announces $10 Million Bought Deal Financing|
|10Jan17 16:19||MKW||Erdene Expands New Gold Zone Under Younger Cover at Bayan Khundii; Results Include 41 Metres of 5.2 g/t Gold and 72 Metres of 4.0 g/t Gold|
|15Mar16 15:12||MKW||Erdene Provides Update on Bayan Khundii Gold Project and Receives $770,000 from Exercise of Warrants|
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ERDENE RESOURCE DEVELOPMENT
ERDENE RESOURCE DEVELOPMENT
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
South Disouq spuds
20 Mar 17
SDX Energy announced this morning that it has spudded the South Disouq (SD-1X) well in Egypt, targeting gas and oil across a number of intervals. This is a high impact event for SDX Energy, as current company 2P reserves of 4.7mmboe (post acquisition) would be dwarfed by success at South Disouq (we model a 65mmboe field of which SDX holds 55% WI), which could be developed quickly due to existing pipeline infrastructure passing through the block. Our valuation for South Disouq is 6.8p/share, although on success we would expect notable de-risking. Our core NAV is 42p with a full NAV (including South Disouq) of 57p/share. The well is due to take 30-45 days, so we would expect a result in mid late April.