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trader10

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In reply to: mme on Friday 01/02/08 11:29am

Pike River Coal. PRC

 

Launched an IPO at $1.00,,,,now trading 95 cents.

 

Production starts mid year, transport chain secure and IPO based on $US96 per tonne for this world class coking coal.

 

Big opportunity

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mme duuude!!

 

decent read from CitiSB liking coal a whole lot. GCL still looks a cert for something corporate plus the earnings look like going ballistic not withstanding demurrage costs/delays at the port in Newy. open cut simple and hard to beat.

 

i sold mine and felt boxing clever at $5.10....oops.

 

need to revisit after reading todays piece.

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In reply to: wolverine on Wednesday 06/02/08 08:55pm

Thanks Wolv. Will look at GCL over the weekend. Went over them awhile back.

Eyeing an African play which I put in a similiar league to RIV yet their SP is just under two dollars. Talk of 6mta by year's end travelling to 10mta by 2009. Also talk of a several billion tonne resource though at present about a third of this. Obviously the stock I'm talking about has more shares on issue etc. but comparitive wise I think it should be at least 50-100% up on current levels given RIV'S SP.

Looked at PRC but worried they're a one man band. NEC is still on the cards as well. Do the usual. http://www.sharescene.com/html/emoticons/biggrin.gif

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I thought you coal people might be interested in this?

 

Clean coal loses funding in United States

 

Wednesday, 06/02/2008

 

The push for so-called clean coal technology is running out of steam in the United States.

 

Plans to build a prototype power plant, designed to burn coal to produce electricity and then store carbon underground, have been cancelled by the US government which says it's rethinking the approach to clean coal altogether.

 

It's a bad sign for Australian research, with the technology regarded as one way for the industry to overcome environmental concerns.

 

Luke Popovich from the United States National Mining Association says the US coal industry is disappointed

 

"We are disappointed at this rather abrupt decision, whice reverses a committment that we thought we had from the administration, for a large-scale project that would be the first of its kind, to demonstrate how we might generate coal in a power plant, and capture and store the CO2 emissions", he says.

 

But while acknowledging the decision is a blow, the NSW Minister for Energy Resources, Ian Macdonald, says he does not think it's the end of the road for clean coal R&D, and says other projects are still on track.

 

 

Cheers M

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  • 6 months later...

Some very bearish patterns current for most coal stocks. Looks like more than just profit taking imo. Another sign of the sector rotation in play.

The latest eco rep from Japan, stating it looks like another recession imminent, does not bode well for this sector considering Japan is our biggest importer.

Several stocks are trying to bounce at supp levels but they're making a hard job of it on low vol buying.

Have a short pos on several of them.

Cheers

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  • 1 year later...

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