Afferro Mining Inc AFRIF

Undervalued and Oversold

[krowe]

Everything I read about this company makes me wonder how fast this will rise when the buying starts. It's very thin on the TSX. If 64p is about $1 Canadian then the targets on this stock look phenomenal. Also, google the company and west africa and they are in prime territory. Look at the news from last week that never made it to Stockhouse. I think the depressed stock price is related to another company trying to move in. Is there anybody else following this stock?UPDATE: Afferro Mining In Talks With Three Potential Partners -CEO08 Sep 2011 - Dow Jones Newswires(Adds further background)LONDON -(Dow Jones)- Iron ore miner Afferro Mining Inc. (AFF.V) is in discussions with three potential strategic partners to drive its projects in West Africa to production, the company's president and chief executive said Thursday."We're not kidding ourselves--as a junior miner, we need a partner to become a producer," Luis Da Silva told Jefferies' West African iron ore seminar in London.Da Silva said the company has been in talks with three potential partners, two with which their relationship is now "advanced."Although Da Silva declined to name the companies in question, he said they aren't Chinese and have "very deep pockets."AIM-listed Afferro has iron ore projects in Cameroon and Liberia, at various stages of development. Its Putu project in Liberia is a joint venture with Severstal Resources--a unit of OAO Severstal (CHMF.RS), one of Russia's largest iron and steel companies. Afferro owns 38.5% of the Putu project, while the remainder is owned by Severstal.The company's other major project, Nkout in Cameroon, is fully owned by Afferro and has an estimated total resource of 1.42 billion metric tons.None of Afferro's projects is yet at the production stage. Analyst Comments from the last MonthAnalyst Comment by Evolution Securities: Sept.13/11Evolution Securities reiterates Buy rating on Afferro Mining IncAfferro Mining Inc: Evolution Securities maintained a Buy rating on the stock, with a target price of 408.00p .Mattioli Woods: Keefe, Bruyette & Woods upgraded the stock to Outperform and increased the target price to 320.00p . 26/08/11Afferro outlines plans for the rest of 2011The Liberia and Cameroon-focused iron ore miner plans to complete its drill programme at Putu by the fourth quarter and further increase the resource at its Nkout project ahead of completing a pre-feasibility study in the first half of next year. House broker Evolution has reiterated its ‘buy’ recommendation for the shares10/08/11Shares in Afferro Mining, Aureus Mining and ZincOx up after Ambrian Partners rates them as ‘buys’The broker has conducted a survey of 125 metals and mining stocks on London's Alternative Investment Market and it says it has found three shares it believes have been oversold during the past week.11/07/11Afferro Mining’s upgraded Putu iron resource estimate sparks analyst upgradeThis morning the AIM-listed iron mine developer unveiled a new 3.24 billion tonne resource, which added 1.89 billion tonnes to the indicated resource category. Evolution Securities analyst Charles Kernot reckons the stock is significantly undervalued and they could be worth as much as 408p.04/07/11Afferro Resources: Evolution highlights the "excellent potential" Nkout projectEvolution Securities believes that this year's exploration programme at iron ore prospect Nkout "offers significant upside potential" for its owner Afferro. The broker has reiterated its 350 pence target price for the company's shares16/06/11Afferro's Nkout project has significant potential, says Evolution's KernotAfferro’s Nkout project in Cameroon contains significantly more iron ore than is reflected in today’s updated resource estimate, according to Charles Kernot, of Evolution Securities.