UPDATE: Salman Partners Initiates Kimber Resources at Speculative Buy on Resource Estimate Update

Salman Partners initiated coverage on Kimber Resources

with a Speculative Buy rating and a $1.25 price target. Salman Partners commented, "The updated resource estimate for the Carmen deposit contains M&I resources of 640,000 ozs Au at 1.65 g/t Au and 29.1 million ozs Ag at 75 g/t Ag for the combined open-pit and underground areas (after incorporating the 2011 drill program of ~35,000 meters using a cut-off of 0.3 g/t AuEq for the open-pit and 2.0 g/t AuEq for the underground). The Inferred resource totals 295,400 ozs Au at an average grade of 3.22 g/t Au and 4.6 million ozs Ag at 50 g/t Ag." Kimber Resources closed at $0.50 on Wednesday.