Wednesday, 1 October 2008

Asia Now - A Buy With An $0.80 Target

Asia Now (TSX-V: NOW)
Basic Shares: 63.7 million
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eResearch recently issued an update research report and analysis on Asia Now and has held its buy rating with a targeted stock price of $0.80.

See full report......

Focus in this report is the special shareholder meeting that is taking place on October 6th to approve a non-brokered private placement. If approved, Asia Now will raise $4.27 million by issuing roughly 8.5 million common shares at $0.50, twice the value of what the stock is trading at today. These shares are to be purchased by China Gold, a subsidiary of Lippo Corp, bringing China Golds' investment in Asia Now to the sum of $10 million in total. China Gold will be Asia Now's largest shareholder and will own 29.13% of the common shares.

We have mentioned in the past that cash is king, especially in this troubled market. Unlike many in its peer group, Asia Now is well funded through 2009 to continue its exploration on its high potential properties in China.