$PNRL : Paringa Resources TAC 15 Analysis

Low cost, under-the-radar 1/50 US ADR with a tiny free-float could surprise on the upside as coal production ramps up and long-term sales contracts are signed.

PARINGA RESOURCES (1/50 US ADR)

COST TO ACQUIRE = US $0.26/TONNE
COST TO BUILD = US $0.33/TONNE
AISC = US $29.24/TONNE

TOTAL ACQUISITION COST = US $29.83/TONNE

PRICE TAG* = US $599,135,550 OR US $84.74/SHARE

PARINGA RESOURCES (50/1 ASX LISTING)

COST TO ACQUIRE = AUD $0.42/TONNE
COST TO BUILD = AUD $0.47/TONNE
AISC = AUD $41.25

TOTAL ACQUISITION COST = AUD $42.14/TONNE

PRICE TAG* = AUD $846,381,900 OR AUD $2.39/SHARE

*Free-Float Methodology

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