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Additional information
Additional Information
Market: AIM, ASX
Sector: General Mining
Epic: FND
News: Latest news
Web Site: Finders Resources
Other Articles: 29-01-201023-12-200904-12-2009

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Monday March 15, 10:21Diamondcorp: a big cash injection and a lot of work to do

70% of the new money was raised from current shareholders, reflecting a hefty amount of faith in the management to deliver.

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Monday March 15, 11:38Calvin Klein owner buys Tommy Hilfiger for US$3 billion from Apax Partners

The New York listed shirt and neckwear company is paying €1.924 billion in cash and issuing €276 million in PVH common stock (approximately 8.7 million shares) to fund the transaction.

 

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Monday March 15, 08:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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Finders Resources

Finders Resources

Finders Resources' operations include development of the wetar copper project, exploration for copper and gold in Indonesia and investment in resource-based companies. The Company has 93.97% interest in wetar copper project, Indonesia. The Company’s interests in the wetar project and the ojolali project are held through its subsidiaries, Banda Minerals Pty Ltd and Way Kanan Resources Pty Ltd. The Company operates in two geographical locations, being Australia and Indonesia. Its minerals business is based in Indonesia where it is developing a copper project on the island of Wetar and conducting mineral exploration on Wetar Island and Sumatra.

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Thursday, June 25, 2009

FinnCap issues upbeat note on Finders Resources after Wetar copper project update

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Broker FinnCap issued a note following Finders Resources PLC’s (AIM: FND) update on the feasibility study for the company’s Wetar copper project in Indonesia, saying it expects the project execution risk to materially diminish going forward.

Finders Resources said it is making“ excellent progress” with the study, and that it is on schedule for review in August 2009.

“We expect H2 2009 to bring a series of announcements which will materially reduce project execution risk and increase the market’s value towards our 0.75x NPV valuation of 69p per share,” the broker said.

The large number of independent consultants being used by the company should provide comfort to the market that due process is being followed.

The update increases FinnCap’s confidence that the demo plant will produce 680 tonnes of refined copper for fiscal 2009 resulting in US$3m of revenue. But the real upside lies with the main project which it expects, assuming financing is secured, to produce 6,000 tonnes of copper in 2010 followed by 20,000 tonnes in 2011, it said.

“We think the current market value of Finders, at 2.4x 2010 earnings based on a copper price of $2/lb, significantly overplays project execution risk,” FinnCap added.

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