Anglo American faces attack over ‘worthless’ coal mines – Telegraph.co.uk
Anglo Americans advisers calculated that Thungela is worth more than £500m. Stock broker Liberum expects Thungela to float for between £315m and £670m.
Boatman, however, says that this valuation ignores a slew of additional costs and is based on an over- optimistic forecast of coal prices. Our valuation of Thugela is zero, Boatman concludes.
Boatman hit the headlines in October 2018 with its attack on Babcock, Britains second-biggest defence contractor.
It claimed Babcock had buried a lot of bad…
