The Gold Report
Notable Quotes
"ICG has closed a CA$2.5M flow-through placement." (12/24/15) Integra Gold Corp. - Thibaut Lepouttre, Caesars Report More >
"The exploration upside at MAG's Juanicipio project is substantial." (12/23/15) MAG Silver Corp. - Gwen Preston, Resource Maven More >
"AKG's management continues to deliver on its development milestones." (12/22/15) Asanko Gold Inc. - Nana Sangmuah, Clarus Securities More >
"We are initiating coverage on KDX with a Buy rating." (12/21/15) Klondex Mines Ltd. - Don Blyth, Paradigm Capital More >
"VIT's Eagle is a shovel-ready, fully permitted, prefinanced gold project." (12/17/15) Victoria Gold Corp. - Tom Hayes, Edison Investment Research More >
Initiating Coverage on CBM
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SIDDHARTH RAJEEV, Fundamental Research Corp.
(03/18/2009)
"CBM Asia Development Corp. is a Canadian-based company focusing on the exploration and development of coal bed methane (CBM) in Indonesia. The energy industry in Indonesia is well-established both domestically and internationally, with good infrastructure. The country is one of the most important natural gas exporters in the world. New legislation has opened 450 Tcf of CBM opportunity in the country's immense coal reserves, whereby the government currently takes 55% interest in CBM projects, as compared to up to 70% interest in conventional oil and gas projects. We believe the company's current projects represent good upside potential for coal bed methane in light of the large coal deposits in its project area. CBM Asia's primary objective to delineate a 3P reserve for its Kutai West block in 2009 through its pilot drilling program, we believe, is essential to confirm and increase the company's value. Based on our review of the company's projects and valuation model, we initiate coverage of CBM Asia Development Corp. with a BUY rating and fair value estimate of $0.58 per share." |
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Under SEC rules, analysts are required to disclose their interest in securities that they cover. We strongly encourage you to contact them to understand any potential conflicts of interest they may have.
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