White Energy (WEC)

[soulman]

This coal company has $143 mil cash, $25 mil loan and market cap currently (at 29 cents) at $94 mil.

The freebies is obviously the coal asset.

Is there anything I'm missing here?

[bermuda]

This coal company has $143 mil cash, $25 mil loan and market cap currently (at 29 cents) at $94 mil.

The freebies is obviously the coal asset.

Is there anything I'm missing here?

Soulman,
It sounds good and most likely is. There are some great coal companys in Australia. But for my money I am sticking with gas. Demand is soaring right across the world.. It has flattened coal in the USA but hey I do know things are far better in Aussie.

I have heard of good things about WEC so good luck.

[soulman]

Cheers Bermuda, up to 31.5 today, still below my entry at 33. Bought for T/O possibility. With plenty of cash WEC should be shielded if there is a freeze in the credit market.

Also for GLL, the only gas exploration company with $34 mil cash and cap at $21 mil. What a decent discount.

[soulman]

WEC making moves today breaking their 35 cents resistance. Weak closed though but in the right directions.

[soulman]

Latest QTRly revealed $106 mil cash and no debt (just paid out $25 mil convertible notes).

Mrt Cap (at 34 cents) is $109 mil. The coal asset is basically free. Paradice has become a substantial holder recently. I got a few.

[soulman]

Still watching this one. Glad I am a trader as I don't hold any in the 20's or 30's anymore. Otherwise massive percentage loss with current price of 16.5

Been buying a few at 15.5 and 16.5. Waiting for the latest quarterly. Still about $38 mil discount to market cap of $53 mil. Just curious how much they spend to buy the US coal coy that didn't went through.

A special dividend or share buyback could well spur the share price.