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"Risk comes from not knowing what you're doing" Warren Buffett I look and sift the world for such misplaced bets. When I occasionally find one, I first exploit it for profit. Then, I write about it for anyone else interested in such ideas. Twitter: @unemon1 Scribd:... More
  • How Much Should Puda Coal Inc. Be Valued? 0 comments
    Jun 11, 2013 8:40 AM | about stocks: PUDA

    That's what CITIC thinks with respect to the Coal Mining Activities Puda Coal Inc. disclosed to own in its 10K for FY2010:

    The Equity Value of PUDA Coal Inc. Mining Activities should therefore be: 1,173.50m USD

    Here is a conservative Estimate of the Value that the Coal Washing Plants Owned by Puda Coal Inc. (if info disclosed in the 10k were accurate):

    The Equity Value of PUDA Coal Inc. Coal Washing Activities should therefore be 175m USD

    Resulting in a Puda Coal Inc. Total Value of 1348.50m USD

    Assuming a 2.00 Debt-to-Equity* (Highly leveraged) for the Coal Mining Segment, its Net Value should be: 391.16m USD

    A conservative estimate of Puda Coal Inc. Total Value, according to CITIC Trust Data, Total Value is therefore: 566.16m USD

    How much will Mr. Zhao Ming Pay?

    *. The median Debt-to-Equity Ratio for U.S. Listed Coal Enterprises is 1.49

    Disclosure: I am long OTC:PUDA, OTC:YNSKF.

    Stocks: PUDA
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