Correction on the revenue projections for PUDA
Drexion2004 (Fernando) correctly reminded me that in their 2nd q conf. call, PUDA stated that if they got the consolidation approval, that the mines would be partialy operational while the focused on upgrading them one or two at a time.
The revenue estimates from the mines I posted are for a full year, at full capacity- so 2010 will come in lower in due to the re-opening/restructuring.
The positive in this is that they also stated they are planning to use cash flow from operations, government grants and loans to finance the upgrades...which is preferable to big dilution.
Their existing coal washing business should show improvements in 2010 over 2009 also...
At any rate, I just wanted to point out that the revenue projections from the mines are when all mines are fully operational. My best guess from what I've read on the speed of the consolidation/reopening in Shanxi is that will hapen in q2 of next year.
“The 19th century belonged to England, the 20th century belonged to the U.S., and the 21st century belongs to China. Invest accordingly.”
Warren Buffett
