Post by
YakYak3 on Feb 22, 2010 10:26am
New Research Report
Rodman & Renshaw, a small boutique investment house in New York, issued last week a research report on Volta titled; Volta The Emerging Star of West Africa.
I can not post it here as reproduction is prohibited but here are some highlight.
-Initiating coverage with market outperform and $1.50 price target.
-Advancing the Kiaka Gold Project in Burkina Faso.
-Strong vote of condfidence from Randgold.
-Strong shareholder base and human capital.
-Attractive Valuation - VTR shares are still undervalued.
-On its way to production together with huge exploration upside.
-Volta shares are trading at a significant discount to our NAV.
-Market ascribing no value for Kiaka.
It is a 26 page report. If you noticed it is attracting new players. The word is getting out and the story is being bought by new investors. This ain't over yet...
Comment by
ALLEN4 on Feb 26, 2010 10:07am
I just received a copy of the report today. I have not had a chance to read it all yet, but in addition to what YakYak has noted, an interesting idea is that Randgold may have further assets within its portfolio that do not meet Randgold's criteria, which could be passed off to Volta assuming Volta does a good job with Kiaka. Imagine another Kiaka landing on our plate!
Comment by
ALLEN4 on Feb 26, 2010 1:44pm
Report says Gaoua alone should be valued at $80 MM, which is the current market cap of Volta.