Time for a new thread! The other one takes too long to load. Please don't put requests for the report on this thread - let's just keep this one to discussion of the GMP report.
I agree with Champ that the report is extremely conservative - too many discounts for my liking. But one big positive is GMP's bullishness on thermal coal prices.
GMP thermal coal price forecasts
Thermal coal - RB spot US$/tonne Source: RBCT, GMP estimates
CY09 Q1/10 Q2/10 Q3/10 Q4/10E CY10E CY11E CY12E LT
64 84 90 88 93 89 160 200 50
(sorry about the formatting)
anyone know who Och-Ziff Management are?
Shareholder base
Continental Coal has an extremely fragmented shareholder base and, up to now, it has mostly been owned by retail shareholders. Following the recent placing, the company's largest shareholder is Och-Ziff Management which owns 6.1% of issued equity. There are c.2.6bn shares in issue with 520.7m listed options, 332m unlisted options and 180m shares related to the company's convertible notes, giving 3.5bn fully diluted shares.
Cheers,
M.
comments on gmp report
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