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Does MM still like Coal & ABB?

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Does MM still like Coal & ABB?

1) ABB - I recall (and please correct me if any of these recollections are wrong) at one point MM mentioning potentially selling around $3 but later MM commentary seemed to contemplate ABB as a longer hold, including with regard to evaluating the (hopefully positive) upcoming update in February. With ABB around the $3 mark, what are MM's current views and plans with the stock? Also, would MM consider it a Hold at these levels as opposed to an Accumulate, particularly with the update around the corner? 2) Coal - your recent update on BCB was interesting. However, what are MM's plans with its other coal holdings given your comment that: "Coal has been under pressure recently and we are largely neutral on the commodity"? And also with regard to WHC's announcement today as to a potential extension of the scope/reach of domestic coal reservations/price caps. Thanks Darren

Answer

Hi Darren,

1 – Aussie Broadband (ABB) has been a frustrating position for the portfolio. We are holders around these levels given our weighting and the 50% bounce in the stock since October lows. The February update will dictate our next move, indications suggest it will be a positive update but we are not married to the position around here.

2 – We cover this in an earlier question.

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Aussie Broadband (ABB)
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