INR – Ord Minnett rates the stock as Buy

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The company has announced a letter of intent for 60% of its annual requirement for sulphur supply from Shell. This is a key project consumable and the company’s largest expense.

Ord Minnett welcomes the slump in sulphur prices over the last month and raises its valuation of the stock, taking the target to $0.38 from $0.36. Speculative Buy rating maintained.

Sector: Materials.

Target price is $0.38.Current Price is $0.20. Difference: $0.18 – (brackets indicate current price is over target). If INR meets the Ord Minnett target it will return approximately 47% (excluding dividends, fees and charges – negative figures indicate an expected loss).

 

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