Game-changing Transaction

Report Date: 22 April 2010

Analyst Details
Company: Southern Cross Equities
Analyst: Fleur Grose

Summary

WEC has announced changes which will see it become a ‘coal’ company rather than a ‘coal technology’ company, led by a proven management team, with a stronger balance sheet. WEC is now well positioned to grow its existing business and potentially acquire further coal resources. We have increased our target price to $4.50 due to an expected re-rating.

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