Hello Paul, this one might be worth a look......they appear to have a good growth rate + met coal demand is still sky high.
asx.com.au
google.com
JP Morgan rates as Overweight + two other brokers rate it a buy, these guys ship out of NSW Kembla Port Terminal, very close to their mines, under 20 km, (the terminal is very under utilized, its in New South Wales, about 40 miles south of Sydney, no flooding near this area).
Lately they have even shipped some spot to China, (they just announced that more spot shipments would be going to China + other countries), the vast majority of their coking coal output goes to their parent company in India, they have an offtake agreement with them. The price formula can be found on page 52 of this:
asx.com.au
They did recently say that they are reducing annual output from 2.0 million tons to 1.7 million tons, done to upgrade the mines, 2011/2012 output targeted at 2.5 million tons.
See page 4:
asx.com.au
I've owned them for about three weeks now, (wanted to stay in coking coal after selling my WTN.T), I bought them and OEX through Fidelity / ASX, no problems. |
