$300m AUD net income ($600m annualised), market cap is 2.75B (with 292m AUD net cash). $155 million AUD higher inventory balance expected to be cleared in September.
That's a PE of 4.6, P/E (3.8 P/EV if you count the inventory) during a commodity price slump, which will more than likely recover now if/when China does any form of stimulus.
Still, even with these conditions this is paying close to 10% dividend annualised. Long term outlook for Met coal seems bright.
I have only bought a few shares recently but will be looking to increase holdings. Were you expecting more even with the current coal prices as they were in the last 6 months?
Ann: Quarterly Activities Report, page-32
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