UNV 0.00% 16.0¢ universal coal plc

$1 a tonne

  1. 204 Posts.
    I've got it - someone should give us $1 - yes 1 miserable dollar for every tonne of coking coal at the measured level - that's half of 424 million tonnes or $212 million, which is roughly 7 times the current market cap of Universal Coal. That way everybody would be happy, no? Not a good deal for a prospective buyer? Well then, how about we throw in 50% of 800 million tonnes of coking coal at the measured category, that's another 400 million tonnes, and let's not forget that the spot price of coking coal is currently $US170 a tonne.
    Still not happy, you prospective Chinese and Indian buyers? OK, I get it, some political risk, ANC keeps moving the goal posts etc, so how about we throw in our Kangala thermal coal and our deal with the country's largest electricity supplier, due to go into production in the second half of this year. BTW, if you're dubious about that deal, bare in mind that sophisticated investors stumped up the money for that mine at a 40% premium to the share price. If you still don't think that's a fair deal, the $1 per tonne of measured coking coal, we can still throw in various other projects like Roodekop and Brakfontein etc.
    Anyway, you all get the point, this is way, way beyond a joke and something simply stinks to high heaven. Love to hear other's opinions.
 
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