Credit Suisse has reinstated coverage on Altona Mining (AOH) with an “outperform" rating and a target price of 22¢ a share.

“Updated valuation post cash distribution and 1H15 financials suggest that the market is paying only $7.6 million above cash backing for the Roseby project, suggesting compelling value and corporate appeal for a company that has demonstrated and stated its willingness to deal with the asset or company into an appropriate corporate transaction.