I am a shareholder of Malabar. Yes, they are unlisted, but in the recent equity raise they accepted new investors. I was pleasantly surprised to later learn that NHC bought in at the same time.
You can view their agm presentation on their website - just look up Malabar Resources. It is well worth a read.
In terms of dividend payments, there is a chance they could pay dividends before FY2027. My assumptions were based on thermal coal reducing to $100/tn within 2 years and met coal at $150/tn. Also an xrate of 0.8.
If prices stay where they are now, you don’t have to be a brain surgeon to work out that they will be swimming in cash. In this scenario I can only assume dividends would be brought forward and would obviously be multiples higher than my estimate above.
NHC Price at posting:
$5.28 Sentiment: Buy Disclosure: Held
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