For the number savy folks out there, here's a summary of figures...

For the number savy folks out there, here's a summary of figures released recently by FLX & some calcs.

These look promising to any potential buyers out there.

Profit b4 tax: $254.3m (+411%)
NPAT: 188.5m (+300%)
Cash: $300m
Debt: $91m
Gearing Ratio: 14%
Coal Sales tonnage/Production: 4.6 mtpa ('08)
Reserves: 368.5 MT
JORC Resource: 1.3 BT (FLX's share out of 2 BT)
Shares issued: 196.3m
SP: $8.4
Mkt Cap: $1.648b
EPS: 188.5m/196.3: 0.96c/share

Based on the above, one can work out the EV scenario,

Current EV: MC+Cash+Debt: $2.039b
EV/EBITDA multiple: 2b/254.3m : 8.02
EV/Resource: 2b/1.3b: A$1.568/ton
EV/Sales Tonnage: 2b/4.6m: A$443/ton

Would b good to see how the other coal miners compare against these numbers.

An offer of $15 by Yanzhou equates to $3 billion. This could look more realistic in days to come, one thinks.

cheers