GREY:RIOAF - Post by User
Post by
eebleron Nov 02, 2011 11:10am
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Post# 19201868
ScotiaMcleod Initiated Coverage of RIO
ScotiaMcleod Initiated Coverage of RIOScotiaMcleod initiated coverage of RIO yesterday and established a target of 4.20 with a few excerpts being:
We believe additional value remains to be unlocked from the oxide gold project;however, in our view, the greatest upside potential lies in the development of
adjacent copper-gold sulphide project.
Our one-year target price is based on a 1.3x multiple to our current after-taxproject NPV 3% estimate for oxide gold operation, and 0.6x multiple to our
current after-tax NPV8% estimate for sulphide project.
eebler