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Print[Ferro-alloys.com] Zanaga Iron Ore (LON:ZIOC) had its 'buy' rating repeated by City broker Liberum Capital this week.
The stock has caught the attention of several analysts in recent weeks with broker Investec turning more bullish on the junior African iron ore groups at the tail end of last month.
Zanaga, in its flagship project in the Republic of Congo, is developing one of the largest deposits in Africa and a PFS at the end of last year underlined its world-class potential.
It owns 50% less one share of the project following a joint venture deal with mining major Xstrata.
It has a resource of 6.8 billion tonnes and planned initial production of 30 million tonnes a year, and will be one of the cheapest producers in the world at US$23 a tonne.
The firm took a further leap forward when 2.5 billion tonnes of that resource were classified as reserves - economically viable to mine.
And in terms of the resource itself, Investec is not one of those who believe a glut of iron is just around the corner.
It recently said it thinks iron prices are set to stay around current levels for a number of years enabling new producers to entrench their positions.
It expects prices to hold at near to current levels of US$125 per tonne (62% Fe fines, FOB) in 2013, before easing a little and averaging US$125-115 until reaching US$85/t by 2017, it said.
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