This stock has been washed,beached,rinsed and tumble dried for the last 2yrs!!
And now ready for the waxing ,ironing and gromming stage!
Yes, a process many company go throught before re rating.
Some need to get over the past wish wash stuff and Focus on current news and events -
Going by last announcement
- JB adds another 100K to holding @.23 , total 600+ now.
- Annoc confirming that $20m due by end of month, will bring total to $30m+ cash on hand . Market cap only $95M @ this stage.
- 3 respectable mangers onboard now.
-Looking into growth plans into coking coal .
-Broker coverage recomend "BUY"
-Current hardware is valued @ .275
- Activities in SA picking up, and conciliation amongst several BIG coal players .
- Black power stuff in SA out of the way .
- Many more news to follow the list goes on , Driling results , mines coming onboard soon , JV... etc
Waxing process underway and the shine will come through anyday.
SOME - FINANCIAL HIGHLIGHTS
- Revenue of A$49.9m increased by A$37.0m on the previous corresponding period.
- Gross profit of A$14.1m up from A$0.4m in the previous corresponding period.
-EBITDA of A$3.0m, a A$31.5m turnaround on previous EBITDA of (A$28.5m).
- Maiden net profit after tax reported, and a 100% improvement from a net loss after tax of (A$30.8m) in the previous corresponding period.
- Improved liquidity with debt funding secured from ABSA Capital.
- Cash as at 31 December 2011 of A$11.3m.
- Forward coal sales of 664,550t established at an average price of ZAR1,057/t, a +50% premium to the average 3 and 5 year historical export thermal coal prices.
OPERATING HIGHLIGHTS
- Run-of-mine thermal coal production increased by 112% to 937,464t, with run-of-mine production from the Ferreira Coal Mine increased by 402%
- Export thermal coal sales increased by 380% for the period to 309,445t.
- Domestic thermal coal sales increased by 235% for the period to 693,665t.
- Development of the Company’s third mine, the Penumbra Coal Mine commenced.
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