Eagle Star Minerals Corp. (EGE.V) is optimistic about 2013, the president of the company said in a letter to shareholders today.
Eran Friedlander said phosphate, which has been traditionally neglected by the investment community, "has been gaining increased attention lately". Eagle Star is well-positioned to benefit from this increased interest.
"With M&A activity gripping our sector at valuations much higher than share prices would otherwise suggest (for example the recent acquisition of Rio Verde by B&A at significant premium to market price) it becomes increasingly apparent to professional investors that our company is extremely undervalued. By continuing with the aggressive exploration program planned for Bomfim in 2013, while advancing additional chemical and metallurgical testing at Canabrava, the company will be able to reach important milestones and unveil significant value throughout the coming year," Friedlander said.
Eagle Star is trading near a yr low.
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