Member Info for EdwardSeaton

There is a great deal of obsessing about the price of coal.

The $ peaks reached earlier in the year were never remotely reflected in the share price.

And remember, anything about about $60 is pure profit.

If you had said this time last year that it would now be over $200, that would have been considered wonderful news.

At $200, the profit remains enormous.

As far as I know, there is no way of knowing what price they actually achieve. Bur is is reasonable to assume it is a constant derivative of the published price.

I think the markets are grossly underestimating how much money Thungela, Bisichi etc are making at $245.

This is pretty much bamg on the average in epic H1.

It is curious that neither the full year 21 results, nor the H1 2022 results, are available in the Live RNS section?

Yes, of course.

But the fact is they are available for purchase now if wanted.

The coal price averaged mid 200s in H1.
The coal price is $248 today (which is more in cutrent £s).
Futures are available in the 200s right out to 2027.
These things are certain.
The rest iis speculation.

I'm not so sure. Futures are well over $200 right out to 2027.

Decemver 2027 currently $226.60.

Average RB price in H2 so far is well above average in H1.

For Q3, it averaged well above $300, and as been pointed out elsewhere, given the strength of the $ in terms of Rand and £, the reality is even more positive.

No, that's far too simplistic.

They hold substantial stock at RB, so for a period can draw on that. Currently, exports are unaffected.

And let's assume they do run out, and then lose 2 weeks of exports. That's just 4% of annual sales.

Neither of these things comes close to justifying the recent sp fall.

Don't like, don't buy

The Heller family control the business, so there is nothing that could be done about it if we wanted to.

But I'm not convinced external management would be significantly cheaper, and I'm sure it wouldn't still be an independent business after 100 years if they had done that.

Yes, I was. Lookers is indeed one of my other holdings that I genuinely don't understand why it's so cheap.

But as I said, in my opinion, neither TGA nor Lookers are comparably cheap to Bisichi.

I'm sorry if you don't like me sharing my thoughts, but as as a regular and long term buyer, I hope the wider market takes as long as it likes to recognise the value in this share.

Forgive me, Crawshaw - it was on Monday.

That's rather harsh, diamondman.

Perhaps I've misunderstood the rules of these chats, but I thought the idea was to share information and opinions on the subject company, and in the context of other comparable companies (in this case Thungela and Associated Properties)?

For what it's worth, I've held Bisichi since 2005, and continue to buy it on a regular basis, most recently 4500 yesterday. In my opinion, only a lunatic would sell.

Again, apologies if I've offended.

Awesome figures. H2 is going to be remarkable.

Bisichi, although much smaller, has barely begun to reflect what has happened. H1 profit £22m, market cap £30m!

I can't believe I've just been able to add 4500 shares to my holding at 273.4p.

This, and even more so Bisichi.

H1 2022 profit £22m, market cap £30m!

Anyone in a position to take this private who doesn't, doesn't deserve to be in a position to take it private!

Can anyone point me to another company that in 2022 will make 500pps and pay a dividend of at least 30pps that you can buy for 270pps?

You are literally buying £10 for £5, and that is just on this year's trade alone.

A bit more, I hope.

I'll be testing the upwards liquidity in the next day or so.

In the context of an annual profit this year of £55m to £60m, I really don't see the need for a constant reference to a million pounds or so of Directors pay. Of far more beneficial interest to us as shareholders is the potential for the company to be more communicative.

The Hellers completely control the company, so there is absolutely nothing you can do about their pay. If it annoys you that much, don't hold the shares.

However, there is every reason to believe the full year dividend will be towards 50pps (on a profit of 500ppps+)

Sooner or later, the market will properly wake up to the insanely low share price at the moment. (But hopefully not until next week, when I can buy some more.)