We initiate on another coking coal play in Mongolia MMC 975 HK, with upside to the coking coal price trading at 5.6x PE and 2.7x EV-EBITDA and multiple catalysts.
What is covered in the Full Insight:
Background of Mongolian Mining (975 HK)
Why we like Mongolian Mining (975 HK)
Valuation and Summary
Risks
Ownership Structure
Boomeranged on Wed, 28 Aug 2024 23:13
The company has recently released its H1 FY24, which was in line with expectations as revenues/profits were up 5%/-3% YoY. The most important catalyst in the thesis is now playing out with the proposed redemption of the perpetual (see:https://www1.hkexnews.hk/listedco/listconews/sehk/2024/0827/2024082700401.pdf) by 2nd October 2024 enabling the company to pay dividends in the future.
SUMMARY
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