Still pick of the bunch

Finweek English Edition - - MARKET PLACE - Edi­to­rial@fin­week.co.za

Wescoal pub­lished what it calls a “vol­un­tary strate­gic and op­er­a­tional up­date” and usu­ally these sorts of up­dates are all PR speak. But in the case of Wescoal, it does have a good story with Eskom and ex­port con­tracts in place, a new BEE part­ner­ship and a pile of cash from the BEE deal. The stock has ral­lied hard in the last year, and of the lo­cally listed coal min­ers, Wescoal re­mains the pick of the bunch and it is still cheap on a mid-sin­gle digit his­toric priceto-earn­ings ra­tio (P/E).

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