Orlando, I too share your optimism about this stock although its certainly tested my back pocket of late. The thing that gets me in is the the 4mtpa into stage 1 Wiggins Island already on board. I'm reading that stage 2 of WI which I think is a 25mtpa expansion in 2016 will be dominated by Xstrata's Wandoan projects for 20+mtpa. Given this scenario, what other greenfields (or expanding brownfields) projects are going to go in the next 5-6 years? Sure i've heard about alternate ports at Gladstone and Balaclava Island but these will have a lot of work to get up eg EIS, Cultural Heritage, political persuasion. IMO its the only company of the juniors and midcaps with a chance, at least short-mid term. Forgetting the coal assets which are very large, what price do you put on the port allocation as a standalone should someone want to buy it through company aquisition?
BND Price at posting:
56.5¢ Sentiment: None Disclosure: Held
