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
$7.2Bn
9.6%

ACI Arch Coal
3.1 Billion Tons
$14.75Bn
#2 public Coal Co US, Split Appalachia, West
Appalachia Price: $17.25, West Price: $12.50
$6.35Bn
43.1%

MSE Massey Energy
2.26Bn Tons
$4.52Bn
W Virg, underground, #1 US producer Met Coal
WV price: range: $40- $42.00
$3.07Bn
67.9%

NRP Natural Resource Partners
2Bn Tons
$3Bn
Appalachia, 90% CF to Dividend (5.8%)
Receives $1-2 royalty per ton
$1.64Bn
54.7%

YZC Yanzhou Coal
2.0 Billion Tons
$34Bn
#1 Cl China, underground
Price Range Coal Realized: $16-$37
$3.48Bn
10.2%

ICO International Coal Group
916M Tons
$3.3Bn
W Virg, underground
$40 $43.60
$1.57Bn
47.6%

FCL Foundation Coal
1.7Bn Tons
$9.03Bn
50/50 Apltia, West
$14 $19.33
$2.33Bn
25.8%

WLB Westmoreland Coal
1.17Bn Tons
$1.75Bn
Western US, #8 US coal producer
$10 $11.50
$304M
17.4%

CEY.AX Centennial Coal
1.1 Billion Tons
$8.36Bn Australia-based, Largest Australian independent coal producer by reserves
$26.03 $33.60
$1.5Bn
17.9%

ANR Alpha Natural Resources
490M Tons
$4.4Bn
36% rev from met coal, 90% low sulfur
$34 $42
$1.65Bn
37.5%

JRCC James River Coal
242M Tons
$923M
Kentucky, underground
$42 $46
$725M
31.7%