Thoughts on Coronado (CRN) and Strike Energy (STX)

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Question asked 17/06/2023

Thoughts on Coronado (CRN) and Strike Energy (STX)

Hi all, Many thanks for that great Resources webinar this week! Just two questions. RE Coronado(CRN) whom we note is reportedly back in play for those BHP coal assets, going into its typically worst 3 months of the year, do you see medium term value? We note its strong fundamentals and heavily discounted share price. RE Strike Energy( STX) Any further update on your previous response to our query? Do you suspect the WA government might intervene in any takeover attempt by big miners to ensure surety of vital domestic gas supply to the Perth market?

Answer

Hi David,

Thanks for thumbs up on the webinar:

Coronado Global Resources (CRN) $1.49 – Just as we do with Whitehaven (WHC) and New Hope (NHC) we see excellent medium term value with $2.5bn CRN which is trading on 3.3x earnings. We’re confident the miner is looking for acquisitions following its comments in May with BHP’s assets some that I’m sure they are running the slide rule over.
Strike Energy (STX) 4bc – In March we said “We are bullish STX looking for a breakout to new all-time highs above 41c which has unfolded, in terms of what next, we remain bullish but 2nd guessing the WA government is a tricky game, the trend remains up and we like the Energy Sector medium term, a healthy combination in our opinion.

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Coronado Global Resources Inc (CRN)

LAST UPDATED 16/06/2023 14:08

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