Bungi & ZZAZZ
FLX have a 1.3bT JORC resource, see breakdown below
Measured: 428.5mt
Indicated: 259.2mt
Inferred: 677.5mt
FLX have 368.5mt of JORC reserves (125.4mt Proved & 243.1 probable)
So EV divided by this will give the multiple. By the way I noticed a minor mistake in my stats with the EV,
EV: MCap+Debt-Cash, $1.66bil + 91mil - 300mil= $1.45b
EV/Resource: $1.45b/1.3bt = A$1.115/t
EV/Sales Ton = $1.45b/4.6mt = A$313/t
EPS: $188.5m/196.3mt = 0.96c
What YZC are eyeing IMO is the production by 2012 of 16.7mt. This is 3.6 times '08 sales figure of 4.6mt. So obviously the assets have a huge potential/demand despite the mow low coal prices.
Felix's sale's tonnage was 4.6MT so the production would have been around 5.3MT. There is some run-off coal hence the sales fig are less then the actual production figures for coal.
I had a look at the NPAT fig's from Macarthur, Centennial & New Hope, Felix certainly looks very attractive.
cheers.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 16370 | 16.5¢ |
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Price($) | Vol. | No. |
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19.0¢ | 6250 | 1 |
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1 | 25000 | 0.160 |
2 | 55000 | 0.155 |
1 | 1000 | 0.040 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
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0.190 | 6250 | 1 |
0.195 | 44660 | 2 |
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