Well BB I ama afraid I have to take a different perspective ( as...

Well BB I ama afraid I have to take a different perspective ( as a UNV hoder).

Right now UNV DO NOT NEED TER. TER may need UNV

UNV are making money, they are profitable, they have someting like 85% certainty over profitability.
They have no/low debt.
They are increasing sales to ~ 9mT pa by the end of ths financial year with increasing EBITDA and profitability. Then 10mT coal sales the year after.
They are paying a 2c dividend out of profits.


TER on the other hand are reliant on coal from Athol Blair at a sales price somewhere above where above where it is now. They have not made a profit recently (if ever.)
They have high debt
The September Qtr results leave a lot ot be desired.
Will December be any better.
They are not paying dividends out of profit, so long term the 2c dividend is not sustainable unless the price of coal inceases. It may.

To me from a risk pesrpective UNV is low risk with good profitabilty, increasing sales and good return to investors
TER appears to me to be high risk with non existant profitability but great potential prospects if coal price increases.

Will coal price increase? For each report saying it will, there is one saying it will not. So take Reuters with a pinch of salt.

Combined the two companies have the basis of a great partnership.
But pls don't try and beat UNV down, because UNV don't need TER, and if coal doesn't increase over the next couple of years TER will be in trouble not UNV.