CybeRelease: (OTC: KALG) Rated ’Speculative Buy’ Rating, Target Price $2.00 by Beacon Equity Research
(CybeRelease, April 19, 2007) – Lake Harmony, Pa. - KAL Energy (OTC BB: KALG) has been rated “Speculative Buy” with a target price of $2.00 by Beacon Equity Research Analyst, Lisa Springer, CFA.
The full report is available at http://www.BeaconEquityResearch.com
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In the report, the analyst writes, "KAL Energy, Inc. is a junior exploration stage coal mining company. The Company, through its wholly owned subsidiary, Thatcher Mining Pte. Ltd., owns two coal concessions near the Mahakam River in North Eastern Kalimantan, Indonesia. The location of the coal concessions offers easy access to the ocean and opportunities to ship coal to markets in India, and North and Southeast Asia. Initial analysis of the coal concessions indicates reserves may exceed 192 million tons. The Company has secured funding for Phase I of its $2 million development plan, has commenced drilling at its coal properties to determine the grade and tonnage of coal, and plans to complete Phase I of drilling by the second quarter of 2007.
“We feel the Company’s high projected growth rate compared to that of its peers justifies a valuation at the higher end of the range. By the time annual production reaches 15 million tons, KAL could be valued at nearly $700 million, or $8.50 per share, based on a one time Price/Sales multiple and revenues of $675 million.”
Other publicly traded coal producing companies includes Foundation Coal Holding (NYSE:FCL - News), Allied Resource Partners (NASDAQ:ARLP - News), Alpha Natural Resources (NYSE:ANR - News) and Arch Coal (NYSE:ACI - News).
To read the complete release, go to http://biz.yahoo.com/bw/070419/20070419005286.html?.v=1.
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