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Stock Pick - 09 December 2009
Stock Pick: Exxaro [8850]

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More Stock Pick Videos 		Transcript:
I’m going for Exxaro. The reason is Exxaro supplies 80% of its coal to Eskom so there is stability in terms of earnings. However, the export market has increasingly become a part of it - where before they exported 3% they now export 23% of their coal. That market is based on normal floating prices that are not tied to contract prices as with Eskom. Exxaro has huge coal reserves in the Waterberg area and we’ve seen positive sentiment from India coming out this year where they’re importing coal so that should drive Exxaro earnings going forward.

Broker:
Imtiaz Suliman, RMB Asset Management


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