Nov 29th 2011 - Edison Investment Research today published a report on Goldbridges Global Resources (GBGR.L, LSE:GBGR, LON:GBGR) entitled "Second Innings". In summary, the report says:
Hambledon has entered a new chapter of its history at its Sekisovskoye gold mine by starting the underground operation while continuing its open pit activities. Assuming successful implementation and ramp up of production from the current c 20koz to c 89koz by FY17, we value the company at 7.81p per share. Further upside is geared to the successful development of the newly acquired Tellur gold mine (with 0.14Moz Au in non-JORC resources, potentially online by Q213) and the earlier-stage Stepok gold project containing a non-JORC resource of c 0.30Moz.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »