TER 2.27% 21.5¢ terracom limited

singo got set at 20c I believe - he is rolling in cash.there are...

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    singo got set at 20c I believe - he is rolling in cash.

    there are a few concerns
    1. Rehab of BA - could cost a few $$
    2. limited mine life of BA - springsure/fernlee opening is risky and potentially a drag in the court
    3. low grade coal in BNU

    realistically speaking if OCP wants this - they should let this run a little then make a sweet offer at around 1.50. At EV (equity+debt) of 800mil this would fly and everyone would be happy.

    Fark - I would be very happy and I'ma little fish.
 
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