Bank of China International maintained the International Resources (1051.HK) buying rating, lowered the target price from HK$0.78 to HK$0.51, and lowered its profit forecast for FY2012 by 46%, on the grounds that production costs and income tax expenses are expected to rise. The bank said that International Resources' Martabe project is now back on track because after heavy rains in Sumatra in the first quarter of 2010 delayed construction progress, the company has decided on a new site for the processing plant and waste storage facility. The mine's gold production is expected to be delayed by two quarters to the fourth quarter of 2011, and project costs are estimated to rise by US$80 million to US$440 million. International resources fell 1.23% on Friday to close at HK$0.40.