Asa Bridle at Cantor Fitzgerald repeated its 'buy' rating and target price of 18p on the stock.
Drilling is expecting to restart at both the Kallak deposits in late 1Q/early 2Q and a report is expected at the end of March on the metallurgical test work on the bulk sample taken from Kallak North last summer, he noted.
"The company is also expecting a decision on its exploitation licence application for Kallak North by 2Q, which would give the company the right to carry out mining on the deposit for a 25 year period."
Bridle notes that following some dealys in 2013, he is hopeful the firm should make significant progress this year.
"The resulting news flow should be a useful catalyst for the share price, which has fallen by 66% in the past 12 months despite the progress made and financing secured," he said.
cannot believe i came here instead of kaz. She is going going gone. Just another missed trade though. Who knows every dogs day comes. But Not a share trading here these days. Seems like we are on a raft at sea. Give me hope!
Approximately £1.98m in cash held at the year end Agricola impairment expense of £184,558 - least said about that the better Settlements on a monthly basis from Lanstead based on the Company's share price performance - SP expected to improve n 2014
Timetable: Test mining initial report from GTK to be received at the end of March 2014 KS drilling set to recommence in late Q1/early Q2 2014 1,050m completed at Ballek with a further 1950m by end April Swedish Mining Inspectorate's decision anticipated to be received by Q2 2014
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