Jeff Parent B. Eng. FCSI CIM
Western Canadian Coal Corp.
WTN-T
WAIT
Oct 08, 2010
It has pulled back but is starting to show strength again. If it can break above $6.80 then it is worth buying. Wait until it hits $7. Chance it could drop to $5 otherwise.
Great company but surprised that it is languishing in the low $4's. Key attraction to this coal company is that they are going to ramp up production faster than anyone else going into 2011-2013. Nice geographical diversification.
Has done well because of the general view on metallurgical coal, the outlook from a commodity point of view and its operations. Could use it as a trading stock. Currently not in it but looking for an opportunity.
Possible takeover by Walter Energy (WLT-N). Doubts there will be another offer. If you own, he would suggest you hold on until the deal happens as it could improve.
He would have taken some off but would have been wrong. Is moving because of the company that is taking it out. Flooding in Australia is going to make things better for Canadian mines.
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