Ajanta
The first deal is about to be signed this week. It is obviously with Victoria Capital. Its to supply 20M tonnes of pellets over 20 years.
First delivery is expected in 2011. At the current black coal price of around $100/tonne, and a cost of around $20/tonne, the profit will be around $80/tonne.
This is only one contract that we know of.
Hence gross profit before tax from just this one contract will be around $80m.
Im pretty confident ECT will have sign up more than one customer between now and 2011.
Not many companies are currently valued at $12M (MC) with earning of $80m+/year.
deeper discussion on medium term strategy, page-2
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