Stock Name: Sakari
Company Name: SAKARI RESOURCES LIMITED
DBS Vickers Securities in a Mar 9 research report says: "The Indonesian government has issued regulation to limit foreign ownership in the mining sector (coal, mineral, metals).
"A senior government official says that the new regulation will apply only to new contracts and will not directly apply to existing contracts prior to the issuance of the regulation. In addition, our checks with SAR management indicate that they have discussed with their legal advisors and they believe there will be absolutely no impact on their mines.
"Meanwhile, operations continue to be on track and Sakari will reap benefits from the Sebuku Northern Leases supercharger in FY2012. Coal prices could get a boost as well if oil prices continue to rise. Target price of $2.70. MAINTAIN BUY."
Company Name: SAKARI RESOURCES LIMITED
| Research House: DBS Vickers | Price Call: BUY | Target Price: 2.70 |
DBS Vickers Securities in a Mar 9 research report says: "The Indonesian government has issued regulation to limit foreign ownership in the mining sector (coal, mineral, metals).
"A senior government official says that the new regulation will apply only to new contracts and will not directly apply to existing contracts prior to the issuance of the regulation. In addition, our checks with SAR management indicate that they have discussed with their legal advisors and they believe there will be absolutely no impact on their mines.
"Meanwhile, operations continue to be on track and Sakari will reap benefits from the Sebuku Northern Leases supercharger in FY2012. Coal prices could get a boost as well if oil prices continue to rise. Target price of $2.70. MAINTAIN BUY."
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