tp 4500 dibungkus metode dcf canggih supaya gak ketahuan per 12,5 hehehe. pake per segitu inco bisa 13000 n tins bisa 65000 donk.
--- In obrolan-bandar@yahoogroups.com, James Liem <[EMAIL PROTECTED]> wrote: > > Reaping the rewards of domestic policy > �� Strong catalysts from value-added projects > As a direct result of the Indonesian government's prioritisation of domestic mining companies, we think Antam is in a strong position to secure the best projects given its: 1) 65% government ownership; and 2) US$400m net cash position (our 08 estimate). We believe Antam will tie up with various mining majors to exploit alumina and nickel this year as well as acquire additional gold concessions. Both events should be strong catalysts for the stock price. > �� The value of Herald Resources > In January 2008, Antam made a formal bid for lead and zinc miner Herald Resources. According to Herald and our estimates, the value of its lead and zinc assets is US$700m-1,500m, which would add 20-45% to Antam's value. We expect either Antam or Bumi Resources to acquire Herald by year-end. > �� Gold and nickel to drive near-term earnings > The UBS commodities team recently raised its gold and nickel price assumptions, as investors are buying gold to hedge against inflation, and as nickel supply and demand tightens. We therefore raise our EPS estimates to Rp519 from Rp417 for 2007, Rp360 from Rp285 for 2008 and Rp387 from Rp239 for 2009. > �� Valuation: Upgrade rating from Neutral to Buy > We raise our 12-month price target to Rp4,500 from Rp2,800 to account for our bullish gold and nickel price outlook. Our valuation is based on a life-of-mine DCF methodology with a 9.3% risk-free rate and a WACC of 11.6%. We upgrade our rating from Neutral to Buy. > > > > --------------------------------- > Never miss a thing. Make Yahoo your homepage. >
