TSX Exposure ....
Eric Lam, Financial Post · Sept. 10, 2011 | Last Updated: Sept. 10, 2011 5:12 AM ET
Junior potash developer Allana Potash Corp. has moved to the Toronto Stock Exchange from the TSX-Venture exchange. Allana will retain its "AAA" trading ticker. "The new listing should garner Allana some added exposure from investors who shy away from the Venture exchange," Richard Kelertas, analyst with Dundee Capital Markets, said in a report. Allana is already quite a liquid stock, with a three-month average daily volume of about 2 million shares, but Mr. Kelertas still expects that number to rise. Mr. Kelertas rates Allana a buy with a target price of $3.05, the top pick among junior potashers. "With the stock coming off 39% since releasing the resource update (and 48% since its 52-week high of $2.43), and the company's fundamentals stronger than they have ever been, we think investors could be well served," he said. The company joins several other junior potash producers, including Western Potash, Karnalyte Resources Inc., IC Potash Corp. and MagIndustries Corp.
