0434 GMT - Top concerns of Emerald Resources' new bull, UBS, are the company's capital expenditure requirements and build time frames as it develops two projects concurrently. The company is "going from 1 to 3 mines in a hurry," UBS says in a note. However, publicly available studies on its projects "are non-existent, leaving few anchors on which to pin modeling assumptions." UBS worries management could be stretched by building and ramping up across two countries--Cambodia and Australia--at the same time, and that consensus expectations are too high. "Despite our more conservative build assumptions, the self-funded growth outlook still has the stock screening" with attractive upside, it says. It initiates coverage with a buy rating and A$8.75/share target. The stock is up 3.1% at A$7.02.