How times have changed.

Well..... I was revisiting an old Alto Capital report from 2013 and boy...have times changed. Here you go.......expand on this guys!
Have a look at the comparison chart on the left hand side of the report, near the beginning.

http://www.intraenergycorp.com.au/irm/PDF/1572_0/AltoCapital19April2013

From lowest to highest market cap -

1. IKW. Report - about $18Mil. Today - 4Mil
2. UNV - Report - about $26Mil. today - $178Mil
3. AFR - Report - about $38Mil. Today - $8Mil
4. IEC - Report - $38.5. today - $4Mil
   
5. RES - Report -$70Mil. Today - $41Mil

I could read or find the others.

This report had a buy rating from 9c to 29c...and that was before staring down 1Mil/t/yr.
http://www.intraenergycorp.com.au/irm/PDF/1601_0/RFCAmbrianJuly2013

Just on UNV.... I'm not a fundamentalist that much, more technical but if I compare the 2 -

UNV - "The company sold 4.7 million tonnes of coal in FY18 — a 57 per cent improvement over the prior year — and it forecasts it will produce 6 million tonnes this financial year. Earnings before interest, taxes, depreciation and amortisation for FY19 is predicted to climb 29 per cent to $93 million"

So if we divide that by 4, you get just over 1Mil ton/yr...which is where IEC is headed right? That would make the EBITDA $23.25Mil.
Now if I go waaaaaaayyy out on a limb here (partly because I'm not factoring many other things like ownership, coal quality, workforce size, royalties etc etc whatever...... If I divide UNV's market cap by 4, you get $44.5Mil. ($178/4)

IEC is selling 1/4 of the coal UNV did (a bit less) and we only have a market cap of $4Mil?

https://unauthorised investment advice/resources/significantly-undervalued-coal-play-universal-coal-reckons-its-a-cheap-buy/


UNV does pay a divi though and they have some big expansion plans (8Mil tonnes of coal for 2019)
I was just trying to find some comparisons. Anyone got any others?