GEARing up to ride the big coal price run

SINGAPORE (Dec 16): After being suspended for 18 months, shares of Golden Energy and Resources (GEAR) are currently trading at a bargain compared with those of other Indonesia-based coal miners.

According to GEAR’s chief investment officer (CIO), Mark Zhou, the company is now trading at an average discount of 48% versus producers such as Adaro Energy and Bayan Resources.

GEAR resumed trading this past week, following the announcement of the completion of a compliance placement of 181 million shares at 67 cents apiece to institutional shareholders.

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