Has been a tough year in markets for 2012 and no different for UNV. I think 2012 is the defining year for UNV as they line up a strategic for the coking coal.
There is no question UNV has got a quality Tier 1 asset in the coking coal - it is just a question of monetising via a strategic to demonstrate value to the market. With BGF having a valuation of $1 on the stock it could be a massive rerate if management can deliver.
It is has unbelievably low valuation and feel market cap simply reflects lack of interest in smaller stocks rather than fundamental value which management need to demonstrate. It has very low cash requirements relative to smaller Australian coal players needing to contribute to infrastructure and having significantly higher drilling costs.
I think it is probably unlikely they would consider selling the whole asset Jonathan111 as this would come via an offer for the company.
The proof as always in making it happen. Good luck to all holders. Feel we will know the answer before we hit mid year.
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