Gerhard has been out in Melbourne and Sydney this week, pointing out how ridiculously cheap these shares are trading at. Sounds like the selling has been dribbling out of old shell holders and is about dried up. Comparisons with other metallurgical coal plays in the area make this one stand out as being very cheap - under $10m market cap with 190m tonnes coking coal in resource and remember this doesn't take into account the new Hillalong acquisition which could be another 100m tonnes. This acquisition was made post the listing of BCB so it is not reflected in the current valuation at all.
I think once 2c is cleared and tired holders from days gone by are gone-baby-gone, then their is room for the price to move toward a more realistic valuation given the improved position since listing and with coking coal prices at US230/t
Good things to come with this - i'm feeling pretty confident with this story that we'll get a good run over time
R
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