Just read another detailed research report...and once again it is very positive. It has a Buy on PRB and they have increased their target price to $3.50. They clearly state that Borden has historically increased in quality and grade as the drill density increases. Once again Scotia seems to be out on an island on this one. Other analysts have seen/heard about the Scotia analysis and obviously clearly disagree with it. It is not just the Company stating this, it is many independent analysts all saying the same thing. It is a shame that Scotia has put a wet rag on what otherwise would have been a very good PR. We will wait for more drill results, the 43-101 and PEA to get back to a proper valuation. I also assume that some majors are licking their chops, saying that PRB can now be bought for a song. It would be a shame if an acquirer took advantage of this dip in the share price to launch a hostile bid.