Equity Research Coverage Reports

Kasbah Resources Limited (ASX: KAS) - Development Ready Tin -JV with two Large Japanese Companies - Morocco
Thursday, October 4, 2018
We have also completed a risked, after tax indicative valuation for the Company with a share price valuation range of A$0.028 to A$0.048 based on share structures diluted for a number of conceptual funding scenarios - given the range of possible funding paths this needs to be treated with caution and used as a guide only. We would also expect this to increase with derisking with material progress with offtake and finance negotiations.
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New Energy Solar Limited (ASX: NEW) - Solar and Renewable Energy Assets - US & Australia
Thursday, October 4, 2018
Our expectation is that NEW should be able to generate income in the vicinity of at least 6% p.a. when it reaches its target level of gearing, is fully invested and all power plants are operational.
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Family Zone Cyber Safety Limited (ASX: FZO) - Internet Parental Control and Cyber Security Product and Service Provider - US/
Thursday, October 4, 2018
The Family Zone platform successfully enables parents, or schools, to establish user specific internet access restrictions for any user, any device, and from anywhere.
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Codan Limited (ASX: CDA) - Sales Revenue Increase - Target Price Revised to $3.30 from $2.72
Thursday, October 4, 2018
We have revised our target price for CDA up to $3.30 from $2.72 per share in our report published in March 2018. The Tracking Solutions division is expected to experience significant growth in FY19, although will remain a small portion of the company’s overall business.
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Kibaran Resources Limited (ASX: KNL) - Vertically Integrated Graphite Business - Tanzania
Thursday, October 4, 2018
We have a base case valuation/six month price target of A$0.64/share for Kibaran, calculated on a share structure diluted for funding of Epanko and EcoGraf and graphite pricing adjusted slightly upwards to reflect changes in pricing since release of the BFS. This is predicated on meaningful progress at both the Epanko and EcoGraf projects.
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