FRI Broker view29 Oct 2014 08:05
SP Angel talking about Frontier Resources PLC (LON: FRI) “The Company has a number of highly prospective leads which require 3D seismic before a drill target is located and the leads migrate in to the Prospect inventory, but also acknowledge that there are short term funding risks, associated with the stock until the Omani farmout is completed. We believe that our valuation ($17.2mm – 7.1p) is a fair reflection of the risks and rewards within the portfolio. Hence we are Recommending the shares a BUY, with a 7p Target Price