Tuesday, April 3, 2007

Coal Mining Companies Gross Value of Coal Reserves to Enterprise Value

Ticker Name Reserves Coal Value Reserves Notes: Cash Costs Per Ton (05) Realized Price per Ton (05) Enterprise Value EV/Value Coal-Costs
Notes: Listed From largest company by gross amount of reserves to smallest firm
Quality of coal not indicated -- only can be inferred from the chart from mining location and price realization
Also note, date (05) and market capitalization are getting old -- from mid-06

BTU Peabody Energy
Coal Reserves (both Measured and Inferred): 9.8 billion tons
Gross Value Reserves: $24Bn
Notes: High Sulfur Majority, MidWest. Western US Maj, #1 US Coal Producer
Price Coal Realized: $18.42 (East: $35, West:$12 $17 (East: $33.4 W:$10.5)Enterprise Value: $14.7Bn
Enterprise Value/Gross Value Coal Reserves: 61.3%

CNX Consol Energy
4.5 Billon Tons
$75Bn -natural gas not included
#3 public US Coal Co, also approx 780 bcfe gas
$17.50 $35.60

ACI Arch Coal
3.1 Billion Tons
#2 public Coal Co US, Split Appalachia, West
Appalachia Price: $17.25, West Price: $12.50

MSE Massey Energy
2.26Bn Tons
W Virg, underground, #1 US producer Met Coal
WV price: range: $40- $42.00

NRP Natural Resource Partners
2Bn Tons
Appalachia, 90% CF to Dividend (5.8%)
Receives $1-2 royalty per ton

YZC Yanzhou Coal
2.0 Billion Tons
#1 Cl China, underground
Price Range Coal Realized: $16-$37

ICO International Coal Group
916M Tons
W Virg, underground
$40 $43.60

FCL Foundation Coal
1.7Bn Tons
50/50 Apltia, West
$14 $19.33

WLB Westmoreland Coal
1.17Bn Tons
Western US, #8 US coal producer
$10 $11.50

CEY.AX Centennial Coal
1.1 Billion Tons
$8.36Bn Australia-based, Largest Australian independent coal producer by reserves
$26.03 $33.60

ANR Alpha Natural Resources
490M Tons
36% rev from met coal, 90% low sulfur
$34 $42

JRCC James River Coal
242M Tons
Kentucky, underground
$42 $46

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