QLD based $541mn BCB is the junior player in the room, it doesn’t yet deliver bumper dividends/buybacks such as WHC & NHC. They have only recently announced their second shipment of ~40kt of metallurgical coal from its Bluff Coal mine and initial processing at Broadmeadow East, basically, this is a more aggressive/leveraged play than WHC/NHC towards higher coal prices for longer.
• We hold BCB in our Emerging Companies Portfolio, at this stage we are comfortable with our 4% exposure.
MM is bullish on BCB as a speculative play
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