Research Pit

[Twister]

ALLRF/AAA... New Dundee Capital Markets report today.........

"We are reviewing our model and considering several changes given the size of the resource and production levels. We believe Allana now has enough resources to seriously consider pursuing a more aggressive production profile."

"We continue to rate Allana Potash a BUY with a 12-month target price of $2.50. Our target price is based on a 12% discount to our NAV of $2.84/share, using a 17% discount rate; US$485/tonne blended (MOP & SOP) potash price; 1 million mtpy processing design capacity; and US$70/tonne opex."

http://research.dundeesecurities.com/Research/AAA062011.pdf