Independent Resources/ IRG, has taken a bit of a bashing since 2011, with the earthquake in the Po Valley having seriously put into question the value of the Rivara asset, but thankfully all looks set to change and investors can either grab a great long term hold or profit short term. Jumping straight in with fundamental analysis, historically Independent Resources has traded as high as £1.50 per share and mostly within the 40-60p range. Cantor have even placed a 67p target on these shares, which I expect is based on pending news from the San Gervasio project, which has the potential to generate positive cash flow within nine months of a confirmed award (Independent Resources have already scored highest with the awarding body and most analysts expect this award to be confirmed prior to the new year). From a purely asset based valuation, Independent Resources still stacks up well with a Net Asset Valuation per share of 30p, making it very undervalued in the market. Adding to all of this, no news on major projects has been heard for more than four months now and combined with this final results are expected soon. Although, the question over the award of the flagship Rivara asset may still trouble some investors, I personally don't think it's as relevant to the company as a whole than it used to be. With the expansion into Tunisia and other such countries to accumulate assets, Independent Resources looks set to rise up from these low levels. For short term traders, the current prices may seem a little high and from a technical perspective the RSI and stochastics may suggest that you ought to hang on for a cheaper price, but obviously if (as expected) positive news comes out soon you won't want to be left at the starting line. For the long term holders, these levels would be a great buying time and you never know, if the spot price rose up to £1.50 again you could profit more than 2000%
Independent Resources plc, I had someone comment on how I had unjustly swept the Tunisian assets under the carpet, so I felt that I ought to do the just thing and come back to comment on them. So what are the Tunisian assets? Well, the company has a 18.97 per cent interest in the Ksar Hadada exploration permit, which covers an area of 2,252 square kilometres of onshore south-east Tunisia, which as far as I am aware is the only Tunisian Asset they hold (please correct me if I'm wrong). Now, the placing of this exploration permit is very important, because Tunisia has some very good geographic advantages when compared to other oil rich countries. Whilst I could spend all day writing about these advantages (such as not being landlocked), the main one is that it's next door to Libya. With the heightened levels of civil unrest in Libia, many people are undoubtedly questioning this advantage, but the advantage comes in the potential to get cheap and high quality outsourcing of oil extraction from a country that also has deposits of light oil. This is one of the many factors that adds to the long term prospects of Independent Resources plc as a whole, because whether these high quality assets lead to an increase in positive cash flow (as in the case of San Gervasio) or increase the prospects of a takeover/merger, the effect on the share price will almost certainly be very positive . Even though the spread is being kept quite high at the moment (most likely due to all of the impending short term good news analysts are expecting) buying now into Independent Resources plc will ensure you'll get a good long term base price to work your portfolio from.
INDEPENDENT RESOURCES Cantor Fitzgerald reiterated its “buy†rating on the stock after the Italian hydrocarbon ministry gave a The Thumbs Up for accepting the firm’s San Gervasio production concession application. The broker has a target price of 67p, well above the 5p range the stock currently trades on. IQE Espirito Santo has maintained its “buy†rating on the stock despite a rival launching a product in a market occupied by IQE. The broker’s note said: “We believe that Qualcomm’s move is unlikely to have a material impact on IQEâ€, despite a fall in the IQE share price after the announcement. The stock has a fair value buy price of 55p attached to it, a premium to the 28p range it currently trades around. PENDRAGON Broker Panmure Gordon has a “sell†recommendation on the stock but has raised its target price from 15p to 19p. It said this was to take into account the general sub-sector re-rating and higher forecast assumptions anticipated from improving trading patterns during the year ahead. However, its weaker balance sheet compared to its peers meant it remained a “sellâ€, the broker said.
oilflow1 View Profile View Posts View Threads 21 Mar'14 - 12:34 - 394860 of 394860 0 1 edit IRG rumoured bid from Gazprom Buying started 18-20p
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oilflow1 View Profile View Posts View Threads 21 Mar'14 - 12:34 - 394860 of 394860 0 1 edit IRG rumoured bid from Gazprom Buying started 18-20p...
oilflow1 View Profile View Posts View Threads 21 Mar'14 - 12:34 - 394860 of 394860 0 1 edit IRG rumoured bid from Gazprom Buying started 18-20p..
oilflow1 View Profile View Posts View Threads 21 Mar'14 - 12:34 - 394860 of 394860 0 1 edit IRG rumoured bid from Gazprom Buying started 18-20p.
oilflow1 View Profile View Posts View Threads 21 Mar'14 - 12:34 - 394860 of 394860 0 1 edit IRG rumoured bid from Gazprom Buying started 18-20p
laww on the LSE Posts: 3,203 Off Topic Opinion: No Opinion Price: 0.13 ACP/MMO/IRG/ast gets a mention Today 10:31 "Armadale Capital the investee company with multiple fantastic looking early bird investments are rumoured to be releasing a very positive update from their Mpokoto Gold project and it is bearing fruit for the company, further enhancing the value of this asset and driving development forwards with the aim of commencing commercial production on a fast track basis".......