Zhaojin Mining ++13%+

1818 ZHAOJIN MINING 21.55 2.63 +13.90 151,123 7,169  

CLSA raises Zhaojin Mining (1818.HK) target price to HK$37.50 (earlier price target not provided), keeps Buy call. Says Zhaojin is "preferred gold play in Asia," offering unhedged exposure, organic production growth, acquisition opportunities. Adds 1H07 performance better than expected; notes a number of advanced exploration plays in Shandong may contribute to near-term production. Expects ongoing M&A activities, gold price advance to support a further re-rating. Shares up 10.75% at HK$34.00.