Eurasia Capital: Aspire Mining Ltd – Initiation Report, Speculative Buy

We are initiating coverage of Aspire Mining Ltd. and assigning Speculative Buy rating with target price of A$0.65. Our target price is based only on DCF valuation of Ovoot project of AKM and represents 62% upside to the current market price of A$0.40. The valuation model assumes discount rate of 15.93%, a mine life of 23 years, and long-term premium coking coal price of US$200/t. AKM is an early stage exploration company with mining assets in Mongolia and Western Australia. In Mongolia, AKM holds exploration licenses in five projects. Ovoot Coking Coal Project is the most advanced and focused project for AKM and located in Khuvsgul province of north-west Mongolia. To read the full article, click hereAspire Mining Ltd – Initiation Report, Speculative Buy

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