Ann: Cokal Finalises Purchase of BBM Permanent Port Site on Barit, page-38

hi everyone

i wouldnt worry on this interim updated broker report

its a pre production valuation and will shift much higher once production tonnage / offtakes and forward pci prices are accounted for

once the cash flows and once banked , we will ramp up valuations and you will see it re-rated hard

this interim report is akin to brokers reports on whitehaven coal at 90c when it had production issues and coal pricing was unfavourable... look at it now
whitehaven is $3.30 today
400% up in 12 months

i see similar re-rates on cokal once we swing into production
cashflows talk and re-rates are based on prodn /offtakes and and pricing estimates

we know as do the larger shareholders that the company is intrinsically worth a coal extraction value of upwards of a $1 and that sales and cashflows will lead to more reserve findings and and an expansion of mine life
expansion of mine life through bmm and tbar means reocurring cashflows and repricing and dividends

onwards and upwards

we are mining soon