RE: Nearing Cash Value! Maybe they should turn the Fiat Cash to Bullion, then the market may apply some value.
Anyway, the latest from a few analysts.
28 Feb 2013 - Afferro Mining (LON: AAAM) had its buy rating reissued by analysts at Panmure Gordon. Panmure Gordon currently has a C$4.23 price target on the stock.(279p)
Quote, “Earlier this week the London and Toronto listed explorer revealed it is close to sealing a deal with one of the world’s largest iron and steel companies, which would fund the development of its assets in Cameroon.
It has signed a memorandum of understanding with the African arm of Korea’s POSCO, which wants to help fund the development of all Afferro’s assets in the country.
The shares nudged a penny higher to 77 pence. However, the brokers see significant upside from current levels. SP Angel, which values the stock at 225 pence, said of today’s announcement: “Establishing a formal resource at Ntem gives Afferro another string to its bow and will be particularly useful as Ntem is closer to the coast and does not have the same infrastructure challenges facing Nkout.
“It is likely that the mineralisation at Ntem is different to Nkout and the mineral resource estimate will provide further information on the scope to develop this deposit. Talks with Posco cover all three potential projects within Afferro’s umbrella and a potential resource at Ntem will be helpful in these discussions.”
Panmure Gordon is even more bullish on Afferro’s prospects, which is reflected in a 279 pence a share price target.
Analyst Alison Turner said: “With two billion tonnes of iron ore at Nkout and an imminent maiden resource at Ntem we believe Afferro remains significantly undervalued at current levels. “