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Gold/Mining/Energy : East Asia Minerals (EAS.V) -- Ignore unavailable to you. Want to Upgrade?

To: ogi who wrote (656)	4/7/2010 11:49:12 AM
From: riversides	1 Recommendation Read Replies (2) \| Respond to of 2456

East Asia Minerals Corp. \| Wendell Zerb, P. Geol, 1.604.643.7485 EAS : TSX-V : C$6.29 \| C$415.1M \| Speculative Buy , Target C$7.50 ? • Speculative potential grows; maintain SPECULATIVE BUY rating and raise target price to C$7.50 from C$5.90 Event East Asia has released a series of infill and step-out drill results associated with collar locations EMD001/002/003/018 in the west central area of the Main Miwah Au zone, Sumatra, Indonesia. Many of these drill hole results are in relatively close proximity to previously drilled above-average intercepts. More importantly, the company’s revised geological/structural interpretation suggests the western margin of the area being tested could have a shallow westerly dip, which could open potential for mineralization to extend further west. East Asia suggests that during reconnaissance surface work it has recognized zones of vuggy silica that occur in geological windows approximately 600m west of what was previously interpreted to be the western margin of the Main Miwah zone. Impact: overall positive Based on the premise that vuggy silica occurs approximately 600m west of what was previously interpreted to be the western margin of the Main Miwah zone, we believe the speculative expansion potential of the Main Miwah zone has improved. An open extension of mineralization toward the west could add an additional resource growth component to the Miwah area. While there is some validity in linking this newly observed mineralization to that identified at Main Miwah, these are early initial results and interpretations, and significant follow-up work is required to further support these conclusions. Valuation We have modified our valuation for East Asia, accounting for additional speculative upside over the next 6-12 months. We are maintaining our SPECULATIVE BUY rating and increasing our 12-month target to $7.50 (rounded) (was $5.90).