Blenheim Natural Resources - Initiation of Coverage
Blenheim is the former AIM-listed coffee roasting business Coburg Group. The original business was sold off in 2012 and new blood has since joined the boardroom to set about turning the company into a natural resources investor. This transformation shifted up a gear in 2017 and now the company has substantial interests in a series of compelling projects, some “closeology” plays and where substantial value could be added in 2018.
Our analysis shows that the stock is under-priced. We initiate coverage of Blenheim with an initial target price of 1.19p and Conviction Buy stance.
Align Research is a commissioned research company founded in November 2015 in order to provide the under-served smaller company space with high quality analysis. We have an initial focus on the natural resources sector, in which we see significant opportunities given the current once in a generation bear market, however all undervalued small caps (sub £100m) are considered by our team. Align was founded by industry professionals with decades of experience in the stock markets, headed up by highly qualified individuals from both fund management and analytical backgrounds.
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