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Share
16/07/07
20:20
Share
based on the announcement at the end of June, Coal Fe is significantly undervalued.
Announcement says will do 170,000 tonnes per month
so 2,040,000 total tonnes for the year
Assume US profit at $10/ton 20,400,000
A$ profit at 80c conversion. 25,500,000
Use debt / con notes as announced (A$) 43,750,000
Interest on debt at 8% (A$) 3,500,000
profit after interest is (A$) 22,000,000
less tax (30%) 6,600,000
NPAT (A$) 15,400,000
shares issue under acquisition 36,000,000
shares on issue prior 71,684,253
total shares on issue 107,684,253
EPS 0.143010696
P/e of 10 x (other coal miners trade on 16x) 10
Share price is $1.43
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