This one is tricky. Few drawbacks:
1. They have very aggressive accounting (e.g Watagan consolidation of a 100% owned entity and look at those deferred tax assets)...
2. Large shareholder and limited freefloat - with sizeable interconpany loans at 7% interest. Controlling both equity and debt.
3. High debt levels- thanks to Watagan it ballooned by $1bn - effectively buying Ashton mine when they already owned the Ashton mine....the other watagan assets are on care and maintenance.
4. They keep expanding Moolarben and bought a 10% stake for like $300m - and then revalued the entire asset upwards at the depthsof April'20 market sell off (see aggressive accounting point). Moolarben produces 5500cal coal- so most of their coal gets flushed down the toilet as China is not interested in Aussie coal atm.
However, on the flip side
1. They have HVO and Mt Thorley - Rio's ex best mines
2. 6000cal Coal is at $130, and their costs are low. Plus pricing for 5500kcal is improving
3. they could be pumping $2bn EBITDA this year - 39m tonnes x (AUD 120/tonne sales - 70/tonne cost...
I think most of the positives outweigh the negatives however the free float issues rules it out for me....
- Forums
- ASX - By Stock
- YAL
- coal prices
coal prices, page-2
-
- There are more pages in this discussion • 32 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add YAL (ASX) to my watchlist
|
|||||
Last
$6.91 |
Change
-0.230(3.22%) |
Mkt cap ! $9.124B |
Open | High | Low | Value | Volume |
$7.13 | $7.15 | $6.91 | $20.28M | 2.893M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 19665 | $6.91 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.94 | 11595 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 19665 | 6.910 |
18 | 95706 | 6.900 |
5 | 11756 | 6.890 |
2 | 7458 | 6.880 |
2 | 8358 | 6.870 |
Price($) | Vol. | No. |
---|---|---|
6.940 | 11595 | 2 |
6.960 | 12151 | 3 |
6.970 | 10527 | 3 |
6.980 | 18813 | 3 |
6.990 | 7358 | 1 |
Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
Featured News
YAL (ASX) Chart |