Good day for WAL today. So just an update on the situation:
With CLR at $2.05, this gives WAL a cash and shares backing of 62c. No wonder there are hardly any shares for sale under this amount.
When the additional 7.4m CLR are awarded to WAL this will take the shares and cash backing to 87c per share ie more than double what the current offer price is!
And then there are the coal leases and potential share of a WA farm with a 1.6 billion litre dam.
Downside is the lack of liquidity.
With CLR looking to break higher, my 6 month target price for WAL is $1.
WAL Price at posting:
46.0¢ Sentiment: Hold Disclosure: Held
