“Under the radar” potential world-class hard coking coal supplier with two low-cost projects in Poland to supply Europe’s leading steel makers & a likely acquisition target Prairie Mining listed in London in 2015 to bring its hard coking coal interests in Poland to the attention of European investors. The company is currently moving its two-impressive large Tier-1 low cost coking coal projects towards production as early as 2023. Discounting forecast cash flows from the two planned coking coal mines and assigning what we consider to be highly conservative risk factors gives a target price of 118p. We thus initiate coverage of Prairie Mining with a Conviction buy stance.
05 Sep 2017
Prairie Mining - Initiation of Coverage. Conviction Buy, target price 118p
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Prairie Mining - Initiation of Coverage. Conviction Buy, target price 118p
GreenX Metals Limited (GRX:LON) | 46.7 -0.6 (-2.7%) | Mkt Cap: 127.6m
- Published:
05 Sep 2017 -
Author:
Dr. Michael Green -
Pages:
27
“Under the radar” potential world-class hard coking coal supplier with two low-cost projects in Poland to supply Europe’s leading steel makers & a likely acquisition target Prairie Mining listed in London in 2015 to bring its hard coking coal interests in Poland to the attention of European investors. The company is currently moving its two-impressive large Tier-1 low cost coking coal projects towards production as early as 2023. Discounting forecast cash flows from the two planned coking coal mines and assigning what we consider to be highly conservative risk factors gives a target price of 118p. We thus initiate coverage of Prairie Mining with a Conviction buy stance.