severely oversold at these levels and the most obvious buy i've come across in a long time.
market cap @13c = $8m
company has $10.5m in cash and no debt.
According to the presentation from 28/06 the insitu value of the 55mt JORC resource at Moabsvelden is $18m. this is the value of the coal as of right now, in the ground.
$10.5m cash + $18m resource divided by 90m shares gives a share price of 31c
this figure doesn't attribute ANY value to the various other Sth African coal assets held by XCD, nor the quality of the board, potential for takeover etc.
a poorly managed IPO and bearish market since listing has seen this pushed down to very cheap levels. IMO this will be in the high 20's in no time.
XCD Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
