3 May 2012
Chatham Rock Phosphate has commissioned Edison Investment Research to produce independent research over the next year.
Chief executive Chris Castle said investors and sharebrokers often ignore Chatham Rock Phosphate as an investment opportunity because analysts do not research it.
“We’re really active and we have a great story to tell, but the regulations governing financial advisers constrains them from recommending us as an investment because no third party research on our company presently exists”
“It’s a chicken and egg situation because we are quite small and our potential trading volumes may not justify a broking firm’s investment in research, even though we may prove to be a great investment for their clients.”
“The independent assessment that Edison offers to investors is really important. We are very happy to face that analytical scrutiny.”
Edison is an international research company providing independent equity research on companies for institutions and investment advisers. New Zealand has more than 200 companies listed on the NZX, NZAX and Unlisted exchanges but analysts generally only research the top 40.
“We think Edison offers a real opportunity for CRP to boost our profile to a new group of investors among the New Zealand investment community and potential international investors.
“It also means potential investors can compare us with other companies internationally. The New Zealand market, especially for smaller companies, is thinly traded and doesn’t have any comparable companies in our industry.”
Edison is one of the largest independent investment research companies worldwide with more than 300 corporate clients, including a big focus on mining research with nine dedicated analysts and coverage of 75 mining companies on major exchanges around the world.
Edison sends its research directly to a relevant international investor audience and provides readership data to its corporate clients. The service includes an introductory analysis and regular updates, a profile on the Edison website and distribution to a wide database of professional investors, advisors and analysts in major financial centres world wide, plus organisations like Bloomberg, Reuters, Factset and Yahoo Finance.
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