Has anybody done some research on this coal miner??
Some background:
Resource Pacific Limited holds title to a number of mining leases and sub-leases in the Hunter Valley region of New South Wales, predominantly beneath the mined-out Ravensworth and Ravensworth South open cut coal mines and the operating Narama open cut mine.
The company owns and operates the Newpac No.1 Colliery, which is the largest remaining semi-soft coking coal reserve in the region.
During 2004, the company is mining semi-soft coking coal from its North Western Block at Newpac, on a bord and pillar basis. The mine has commitments from several large Asian steel mills for the majority of its forecast coal output for the 2005 financial year.
The company aims to produce 4 million tonnes per annum (mtpa) of primarily export coking coal by 2007, from the development of a longwall mine based on the Expanded Case Mine Plan. If market conditions do not allow the company to implement the expanded case, it aims to implement its Base Case Mine Plan, which should allow the company to produce 2.4 mtpa by 2006.
In the period to 30 June 2005, the company plans to complete its evaluation of the most appropriate method of developing the Southern Block at Newpac.
On 13 August 2004, the company entered into an agreement with subsidiaries of BHP Billiton to purchase their 53.4% interest in the Ravensworth Coal Terminal Joint Venture.
Only 1 broker covering:
SB citigroup have initiated coverage with a Buy, High risk recommendation, with a price target of $1.82
Last trade was $1.18
OMG look at those forecasts!!!!
and dividends coming...
Earnings and Dividends Forecast (cents per share)
Curr 2006 2007 2008
EPS 1.5 1.4 16.5 39.3
DPS -- 0.0 0.0 8.4
Some background:
Resource Pacific Limited holds title to a number of mining leases and sub-leases in the Hunter Valley region of New South Wales, predominantly beneath the mined-out Ravensworth and Ravensworth South open cut coal mines and the operating Narama open cut mine.
The company owns and operates the Newpac No.1 Colliery, which is the largest remaining semi-soft coking coal reserve in the region.
During 2004, the company is mining semi-soft coking coal from its North Western Block at Newpac, on a bord and pillar basis. The mine has commitments from several large Asian steel mills for the majority of its forecast coal output for the 2005 financial year.
The company aims to produce 4 million tonnes per annum (mtpa) of primarily export coking coal by 2007, from the development of a longwall mine based on the Expanded Case Mine Plan. If market conditions do not allow the company to implement the expanded case, it aims to implement its Base Case Mine Plan, which should allow the company to produce 2.4 mtpa by 2006.
In the period to 30 June 2005, the company plans to complete its evaluation of the most appropriate method of developing the Southern Block at Newpac.
On 13 August 2004, the company entered into an agreement with subsidiaries of BHP Billiton to purchase their 53.4% interest in the Ravensworth Coal Terminal Joint Venture.
Only 1 broker covering:
SB citigroup have initiated coverage with a Buy, High risk recommendation, with a price target of $1.82
Last trade was $1.18
OMG look at those forecasts!!!!
and dividends coming...
Earnings and Dividends Forecast (cents per share)
Curr 2006 2007 2008
EPS 1.5 1.4 16.5 39.3
DPS -- 0.0 0.0 8.4