GCL gloucester coal ltd
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buy back in?

  1. dharry
    2,762 Posts.
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    19/06/09
    10:06
    Post #: 5299550
    This looks good to me from a valuation perspective. PE of 5 ish, no debt, 60 mill in the bank. Fundamentals of coal very, very strong.

    From the valuation they used previously to merge with WHC, i.e. 2.45 WHC shares per GCL share, this would put GCL at 7.35. So anything with a 5 in front looks good to me.

    What's the corporate risk of Noble now owning 87%? They've appointed a new bunch of Aussie directors - all looks above board. Noble just wants to make money from it so my guess is they will easily. Any thoughts?
    GCL Price at posting: $5.14 Sentiment: LT Buy Disclosure: Not Held
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    lightbulb Created with Sketch.  Great analysis
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