PRC Pike River Coal

[Jonathan]

could have been much worse, the price stabilized a we bit in the arvo anyway. I brought at 90c, so i myself wasn't to worried, many of you buys going to take up the offer???

[Hoop]

Could be a quite cheap lesson. Only cost $108.00 The broker cost $80.00 or so.

And the average kiwi Joe Public view is ,,,, if you want to lose money put it into the sharemarket ,,,,

[Hoop]

could have been much worse, the price stabilized a we bit in the arvo anyway. I brought at 90c, so i myself wasn't to worried, many of you buys going to take up the offer???

Most definitely....unless the heads fall below 88c (unlikely)

Heads dropping in price can be due to the rights in play....If you can afford buying up heaps of rights rights + application fee (88c/right) playing the rights game can be fun or tearful. I'll probably enter the sandbox with my bucket and plastic spade if an opportunity arises.

[777]

It was also in the opening phase. There may have been a seller at a lower price who withdrew at the last minute and therefore he paid the next price up. The opening and closing phases can be a good time to trade but you need to be watching it closely. Also his brokerage may only have been $30 odd not the $80 mentioned.

[Balance]

Is this why Liberty Harbor decided to walk away from its convertible notes? Sounds like it's more grabens ahead. They are like cockroaches - you find one, there's inevitably more around.

"We believe that geological risk due to localised faulting impacting upon mine development will be an ongoing challenge for the project," the executive summary of the RDCL report said.

However there was no material change to the PRC resource over that reflected in the 2006 resource estimate, it said.

http://www.stuff.co.nz/business/indu...wed-for-faults

The part I like the best though is the Chairman saying that PRC has allowed for the faulting!

Questions - If they allowed for the faulting, why did they not engineer a better ventilation shaft and anticipate the graben? Why did they persist with a production schedule which was a best case scenario?

""We believe that geological risk due to localised faulting impacting upon mine development will be an ongoing challenge for the project," the executive summary of the RDCL report said. The high resolution geological data such as the underground mapping and inseam drilling that is now routinely being acquired on site indicates the Brunner seam does have significant faulting in the current development area, with both partial seam and full seam offsets encountered within the mine," the summary said.

[blockhead]

This part of the article obviously escaped your attention (un) balanced

PRC chairman John Dow said the miner had always realised the extent of faulting within West Coast geography, and this was partly why it had chosen to extract coal with hydro-mining rather than the longwall mining method that was often used in Australia.

"The mining method is quite flexible so we can easily deal with it [faulting] ... ," he said.

"Once we get away from the Hawera fault, which has caused all the issues, ... the expectation is it should be much more straightforward. That's not to say there won't be some small offsets."

[boysy]

and you trust the word of John Dow over an independent report ? Lets be honest PRC aint going to win any awards for correctly predicting the outcome of any event. There forcasts have been just as bad lets just hope for holders sake that once the hydro mining starts up they will produce what they say they will.

[digger]

Is this why Liberty Harbor decided to walk away from its convertible notes? Sounds like it's more grabens ahead. They are like cockroaches - you find one, there's inevitably more around.

"We believe that geological risk due to localised faulting impacting upon mine development will be an ongoing challenge for the project," the executive summary of the RDCL report said.

However there was no material change to the PRC resource over that reflected in the 2006 resource estimate, it said.

http://www.stuff.co.nz/business/indu...wed-for-faults

The part I like the best though is the Chairman saying that PRC has allowed for the faulting!

Questions - If they allowed for the faulting, why did they not engineer a better ventilation shaft and anticipate the graben? Why did they persist with a production schedule which was a best case scenario?

""We believe that geological risk due to localised faulting impacting upon mine development will be an ongoing challenge for the project," the executive summary of the RDCL report said. The high resolution geological data such as the underground mapping and inseam drilling that is now routinely being acquired on site indicates the Brunner seam does have significant faulting in the current development area, with both partial seam and full seam offsets encountered within the mine," the summary said.

Good try [un]balance,that should get the SP down a little for a cheaper balanced entry.
Can you tell me where you get the info that LH walked away from the bonds and convertable notes. As i understand it the notes were for a three year term and PRC had the right to pay them back.You seems to be saying that LH had the right to renew but have decided to walk away instead. Big difference here.

[root]

• Understanding the in situ geology, coal seam dynamics and mine planning to ensure large scale hydro mining is sustainable;

This is one of the risks that Pike has just recently told you about. They readily admit that successful hydro mining is not a foregone conclusion. That's pretty up front. I understand the risks, it could all go pear shaped. Pike is arguably the riskiest stock I hold.

I can understand why someone who held Pike at the $2.50 - $2.00 SP may it a bit jaded listening to some of the reports now. I still think it's good value, at some stage someone thought it was worth $2.50.

[Dr_Who]

Good try [un]balance,that should get the SP down a little for a cheaper balanced entry.
Can you tell me where you get the info that LH walked away from the bonds and convertable notes. As i understand it the notes were for a three year term and PRC had the right to pay them back.You seems to be saying that LH had the right to renew but have decided to walk away instead. Big difference here.

You are onto it Digger. At least you can see through all the smokes and mirrors to blind the younger posters in here.

China Ignites Global Coal Market

http://online.wsj.com/article/SB1000...kets_LeadStory