Forum Archive Index - May 2002

["andrew cottingham" <arco@adinfinitum.co.nz>]

Hello Peter
Yes, I started looking at MCC on Friday. It has fallen, but technically
starting to look good again. Fridays candle was a 'Piercing Pattern' making
a Tweezer and all coming together on the Fibonacci 61.8% retracement and old
support/resistance line . All these factors are presently bullish.
What initially alerted me was an article on The Age. (There is often money
to be made from bad news).
http://www.theage.com.au/articles/2002/05/16/1021544048098.html

Andrew

----- Original Message -----
From: Peter <pmaiden@today.com.au>
To: <sharechat@sharechat.co.nz>
Sent: Sunday, May 19, 2002 2:30 PM
Subject: [sharechat] MCC - another Australian coal company


> Lot of interest around Austral Coal (AUO) recently. Looks like Gerry
> has drawn attention to another good prospect.
>
> Another Australian coal company showing positive signs at the moment
> is Macarthur Coal (MCC).
>
> Floated last July at $1.00 its price has reached $1.70 before falling
> back to $1.25 odd. Over the last week good gains to close at $1.37 on
> Friday.
>
> MCC is on travk to make $15-16 million this year ( 3/4 of the year
> has gone) and is forecast to increase earnings by 15-17% next year.
> The growth coming from building upon its production base and its
> strong position in the growing PCI segment of the coal market.
>
> On forecast earnings a pe of about 11. In addition  the levels of
> returns more than cover MCC's cost of capital (ie adding real
> economic value to the company) and this is not reflected in the
> current price.
>
> Like Gerry does with AUO I see considerable upside in the MCC
> shareprice.
>
> For anybody interested in Australian coal stocks MCC is worth a look.
>
> Cheers
>
> Peter
>
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CP13mcc.gif

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