fredag 9 mars 2012

Allana pekas ut som bättre val

Allana pekas av Richard Kelertas på Dundee Capital Markets ut som ett bättre val än Ethiopian Potash Corp. Det senare företaget har kantats av en hel del problem sista tiden och nu har även deras chief executive avgått.

Chaos continues at Ethiopian Potash

"It has been an unusual few weeks at Ethiopian Potash Corp., to say the least. First came the very public confrontation with a former employee. And on Wednesday, the junior miner said that its chief executive has resigned. The surprise announcement also referenced G&B Central African Resources, a third party that has caused confusion among Ethiopian’s investors.

Dundee Capital Markets analyst Richard Kelertas tried to sum up the situation.

“The latest chapter in a series of hazy events at Ethiopian Potash adds yet another negative dimension to the project and further supports our negative stance on the company,” Mr. Kelertas wrote in a note.

He also noted that recent drill results produced mixed results, and believes the company “will need to do a lot more drilling” to firm up its resource. He maintained a sell rating on the stock and wrote that Allana Potash Corp., another junior potash play in Ethiopia, is a better bet for investors."

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