Mine was purchased for $620m in 2007, with Coking coal on the rise and demand growing we could see a market cap of $500m + or share price of 20c plus
Spot prices of premium hard coking coal above $200/t
History on mine.
Anglo American bought its majority stake in Foxleigh for $620 million in 2007 under former chief executive Cynthia Carroll in a bid to grow its share of the coal market. The mine produces around 2.5 million tonnes of the steel-making commodity a year.
Coking coal dosent look like slowing down.
RRP Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held