Equity Development bullish on EMED’s Rio Tinto copper mine

Equity hafnium ore mined where in zimbabweDevelopment Research issued a note on EMED Mining , praising its acquisition of the Rio Tinto copper mine in Spain in 2007, which it said was transformational and would soon reap benefits with operational and regulatory progress remaining on schedule, while also noting its Biely Vrch gold project in Slovakia, which is starting to look yet more attractive with the current decline of the euro against the US dollar.

Following the restart of Rio Tinto, the research house projects EMED to make €119.94 million in copper sales revenues in full year 2012, €139.86 million in 2013, which would go up to €208.28 million in the following year. Pre-tax losses are expected to amount to €6.38 million this year and €3.94 million in 2011 and then turn into profits of €50.83 million in 2012, €55.89 million in 2013 and reach €80.11 million in 2014. The prospective price to earnings ratio is projected to be at 1.31, 1.52 and 1.29 in 2012, 2013 and 2014 respectively with Equity Research saying there was...