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Objective Archives
2008:
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LiDCO (LID.L) - signs up KOL Bio-Medical Instruments as its eastern US distributor
Objective Comment, Jul 30, 2008
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Conroy Diamonds and Gold (CDG.L) - substantially upgraded to resource and valuation
Objective Report, Jul 29, 2008
Conroy has substantially upgraded its JORC-compliant mineral resource estimate.
The resource covers a small portion of the Clontibret target, one of several
targets on a 1,500-square-kilometre property on the Longford-Down Massif in
Ireland. A re-evaluation of earlier estimates and the appropriate use of a lower
cut-off contribute to the larger resource. Conroy is drilling again on the deposit
and plans a second programme later this year, with a prefeasibility study set to
commence late this year. Our revised model yields a valuation of £0.065 per
share, higher than the £0.05 valuation contained in our July 2007 initiation note
despite the impact a weaker US dollar has on expected revenues. Further, our
revised valuation is held with gathering confidence following the revisions to
resource estimates.
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KleenAir Systems (KSI.L) - a combination of problems – not all their own making
Objective Report, Jul 28, 2008
KleenAir has been hit by a combination of problems – not all of them of its own
making. Prospects for the London LEZ were significantly reduced by the earlier
actions of TfL. This, and the weakening UK economy, diminish also the prospects
for other such schemes. Following KleenAir’s other problems, notably in its
supply chain and with key personnel, market sentiment now appears to await
results rather than give the benefit of any doubt to KleenAir. We
have materially lowered our forecasts and valuation.
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Colt Resources (COLT.CNQ) - arranging private placement; recent developments support our base-case and optimistic valuations
Objective Comment, Jul 21, 2008
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Playfair Mining (PLY.V) - wrapping up its summer drill programme
Objective Comment, Jul 17, 2008
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Tirex Resources (TXX.V) - aggressive drill programme continues. Results support our optimistic valuation
Objective Comment, Jul 16, 2008
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York Pharma (YRK.L) - acquires anti-infective topical derm line from Solvay
Objective Comment, Jul 07, 2008
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London Capital (LCG.L) - trading update: ahead of expectations – again
Objective Comment, Jul 02, 2008
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Soho Resources (SOH.V) - aggressive drill programme has put it ahead of schedule
Objective Report, Jul 02, 2008
Soho’s earlier aggressive drill programme has put it ahead of schedule at Tahuehueto and yielded, in April, an encouraging NI 43-101-compliant mineral
resource calculation. The company has now moderated its 2008 drill programme
and we expect a modest fund raise to restore depleted cash balances. Our
revised model yields a valuation of C$0.27 per share. That is unchanged from
our May 2008 update but is, we believe, more robust given the gathering
confidence surrounding the project.
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Selwyn Resources (SWN.V) - closer to all-weather road access
Objective Comment, Jul 01, 2008
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