JPMorgan Cazenove included Coal of Africa in their Top Picks list for 2010
Brief reasons :
Coal of Africa Attractive valuation with catalysts approaching
Strong earnings momentum from rising coal prices (NPV gearing coking 3:1 and thermal 0.4:1).
New mining rights for Vele and first production of high-quality thermal coal at Mooiplaats imminent.
NuCoal acquisition should provide strong CF for growth. Trading at a discount to conservative NPV.
Morgan Stanley also recently Initiated Coverage with a Bull Case scenario target of 380p ($7+ ?)
http://robson1974.webs.com/coal%20of%20africa/cza%20ms%20sep%202009.jpg
JPMorgan Cazenove included Coal of Africa in their Top Picks...
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