Below is my yesterday's report on the company, as I selected the shares for the FANTASY PORTFOLIO FOR 2006 (PORT)........
GLA 11 - 11.75p
Has 3 projects with minerals on early stage: a 23.4% stake on NMD, ( a potencially very large copper-gold-molybdenum deposits on Alaska ) a 100% palladium and molybdenum both in Greenland, a 26% stake on Uranco of SA plus a 76% stake in InterMoly an AIM company.
Though it has investments in gold, copper, uranium, platinum and molybdenum, its a mining finance and development company rather than an explorer
future
Many of these projects remain at the development stage and mining on the first project is not due to begin until 2008, but with prices of the minerals now at record prices those plans could be move forward
A Bankable Feasibility Study for the Malmbjerg molybdenum project in Greenland is scheduled for completion in March 2006
Northern Dynasty Mines says it may revamp plans for the Pebble copper/gold mine based on discovery of a rich deep deposit of ore adjacent to a shallower ore body the company has been exploring in recent years.
valuation
House broker estimated the shares were worth 16.3p, based on the current valuation of mineral prices and Galahad's share (76% in InterMoly) with medium term target price of 35p to 40p for the shares, now very close to its lows lately, one to pick up for next year
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