If coal prices fall 60% from currently levels to the $170 & $145 used in the report then Cokal will still have an operating profit of circa A$100m per year based on their 60% share of 2Mt from BBM alone. Seems rather pitiful to value them at only 2 times cashflow ($206m market cap at 22 cents) while also basing that on a 60% fall in the commodity price?
Zero dollars accredited for TBAR? Taylors know that are about to start drilling to prove up an even better resource than BBM right?
Ann: Cokal Finalises Purchase of BBM Permanent Port Site on Barit, page-31
-
- There are more pages in this discussion • 26 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
