I purchased pre dividend which should provide downside support.
This stock is looking very attractive.
The company purchased the additional 40% in Bengalla cheaply from Wesfarmers / Mitsui. Bengalla is high grade long life coal mine and it's the easiest mining operation in the country (in my opinion).
Even without New Acland Stage 3 this stock is easily worth closer to $4. Dividends will surely increase from here with the additional ownership stake. With New Acland Stage 3 this is easily worth over $5 a share. I doubt a Queensland Government who relies on coal to fuel the state economy can reject this project.
I purchased my first parcel at $2.82. I will take another bite above $3 once prices stabilise, or if i'm lucky and we continue to see downside, around $2.60. Something tells me this stock will have the highest dividend yield in my portfolio in the next 2 years (#sooncome).
NHC Price at posting:
$2.77 Sentiment: Buy Disclosure: Held
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