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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Ed Ajootian who wrote (159679)	11/14/2011 8:50:28 AM
From: DELT1970	1 Recommendation Read Replies (1) \| Respond to of 206103

Global Hunter today highlights the value of NiMin's proved producing assets. "Patience should be rewarded Summary: NiMin Energy Corp. reported 3Q11 results below our estimates. The company curtailed capex towards the end of 3Q given global market turmoil, the declining price of oil, and weakness in its stock price. The company had 7MM warrants expire worthless in 3Q that would have provided the company with nearly $10MM in capital, a key component to augmenting its capex budget. While this capex slowdown is disappointing, in the big picture we view it as a prudent move by management to ensure liquidity and not place the company in a tight liquidity situation. Over the next 30 days the company will be crafting its 2012 capex plan coupled with a strategic review of its assets, in order to maximize shareholder value. We estimate that NiMin's proved producing assets, net of debt, are worth $1.40 per share, assuming $100K per flowing BOE. With NiMin's stock below $1.00 per share, we believe patient long-term investors should use this period as an opportunity to initiate or add to positions, as we are confident that this management team can unlock value for its shareholders. As such we are maintaining our Buy rating and C$2.25 price target."