Analyst Research Report Snapshot

Title:

FERREXPO - MAJOR IRON ORE PRODUCER

Price:

$10.00

Provider:

Edison Investment Research

Date:

03 Jun 2009

Pages:

12

Type:

AcrobatPDF

Companies referenced:

FXPO.L

Available for Immediate Download
Summary:

Ferrexpo, the operator of the GPL iron ore mine and processing facilities in the Ukraine, experienced a 96% share price fall between 11 June and 21 November 2008, as well-publicised production cuts in the steel industry drove the spot price of iron ore to historically low levels. Although the company’s shares have recovered somewhat since, we estimate that they continue to trade at 14% discount to fair value based on current output. This increases to a discount of 22% in the event that the company is able to complete the brownfield expansion of the GPL mine and further in the event that it upgrades processing facilities and/or successfully develops its Yeristovskoye deposit. FOR MORE INFORMATION ON THE ATTACHED RESEARCH PLEASE CALL 020 3077 5713 OR EMAIL RESEARCH@EDISONINVESTMENTRESEARCH.CO.UK OR VISIT WWW.EDISONINVESTMENTRESEARCH.CO.UK

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