PRC Pike River Coal

[Baddarcy]

Snore..... another fairly quiet day, half of todays action happened before the opening bell. Options still creaping upwards so can't really complain.

So anyone planning on going to the AGM?

and anyone want to be nominated as a director, with a few mates and myself i can probably scrounge up 0.1% of the votes :-)

[Billy Boy]

:) To All Knockers :
I emailed LPC today and asked them to clean the window in their "Heads web cam"
so we all can see out. And I also asked them to spin the camera a bit to the left
and down so as to take in the Coal Stock Pile.
SO all you's & others can watch the stock pile grow. Then suddenly watch it disappear
on the 4th. T H E N........... watch it grow again.
Cheers to all
BB :):)

[Corporate]

Snore..... another fairly quiet day, half of todays action happened before the opening bell. Options still creaping upwards so can't really complain.

So anyone planning on going to the AGM?

and anyone want to be nominated as a director, with a few mates and myself i can probably scrounge up 0.1% of the votes :-)

Not so sure about that...the sell depth has change dramatically (for the positive) and we closed up!

[Mr Tommy]

:) To All Knockers :
I emailed LPC today and asked them to clean the window in their "Heads web cam"
so we all can see out. And I also asked them to spin the camera a bit to the left
and down so as to take in the Coal Stock Pile.
SO all you's & others can watch the stock pile grow. Then suddenly watch it disappear
on the 4th. T H E N........... watch it grow again.
Cheers to all
BB :):)

Well done. I hope they dont load in the dark though !

[Hoop]

:) To All Knockers :....

....Cheers to all
BB :):)

Knock Knock
Who's there?
Coal
Coal who?
Coal me if you hear Santa coming..:p:p:p:p:p:p:t_down:

If you're wondering:confused:.......no!!!!... I did not make it up...It came from this sick Christmas joke site. (http://www.brownielocks.com/ChristmasJokes.html)

[Corporate]

has anyone got the link handy?

[peat]

Coal Berth (CQ1)
http://www.lpc.co.nz/RP.jasc?Page=N225P2

[blockhead]

Be in today for the last chance to get a PRC for less than $1

[Billy Boy]

Knock Knock
Who's there?
Coal
Coal who?
Coal me if you hear Santa coming..:p:p:p:p:p:p:t_down:

If you're wondering:confused:.......no!!!!... I did not make it up...It came from this sick Christmas joke site. (http://www.brownielocks.com/ChristmasJokes.html)

:D:D Good one !!
BB

[peat]

Be in today for the last chance to get a PRC for less than $1

I think I would prefer that it leaped the chasm into three numerals on more than 2,500 shares volume , but still, technically its good to have broken the upside of that ascending triangle, and it has done a million shares in the last four trading days.

[swissboy]

It's really really happening,
Yesterday Engine Nos DXC 5189 +5264 were loading Coal and today DXC 5287 + 5379 giving each pair of engines pulling 30 wagons with 1500 tons per day

[Dr_Who]

The PRC chart is looking good. Steady as she goes. :)

[digger]

Then this must be for the shipment due out sometime in July? :rolleyes:

Now now yankiwi,look on the positive side.To be only two months late is a hugh hugh improvement over past preformances and i would expect the market to reward the company for this new way of doing business.The only sad outcome i can see is NZO even thinking about selling when creaming it is just on the horizon. It is a bit like selling out of TUI in 2007 and let someone else get the high oil price of 2007-2008.

[peat]

The PRC chart is looking good. Steady as she goes. :)

I cant resist showing off the new software that automatically identifies the bullish symetrical triangle pattern , and shows the two hammers that presented the ideal buying opportunies over the last couple of months (in light red)
It doesnt project a very big target though (blue square) :+(

[JoeBlogs]

It's a nifty tool alright, although note the 1 star for the triangle.

[blockhead]

Blocky just doubled up on the OA's, might pay to get in before the shipments and before all the SCF money starts washing around.

[Ian]

Blocky just doubled up on the OA's, might pay to get in before the shipments and before all the SCF money starts washing around.
I was wondering if any of the SCF finance money would find it's way into PRC. Most are south Island people who obviously like to back south islanders and who don’t mind a bit of risk

[LJB]

I was wondering if any of the SCF finance money would find it's way into PRC. Most are south Island people who obviously like to back south islanders and who don’t mind a bit of risk

I don't think the majority of the South Island SCF investors (excluding SCF shareholders) would agree that their investment in SCF as evidence of an appetite for "not minding a bit of a risk". More than likely they have a contrary investment point of view. ie won't be touching anything labelled 'risky' with 40 foot barge pole!

[dsurf]

Now now yankiwi,look on the positive side.To be only two months late is a hugh hugh improvement over past preformances and i would expect the market to reward the company for this new way of doing business.The only sad outcome i can see is NZO even thinking about selling when creaming it is just on the horizon. It is a bit like selling out of TUI in 2007 and let someone else get the high oil price of 2007-2008.

Exactly Digger which is why I would prefer them to be talking up PRC's outlook instead of saying they are going to sell

[J R Ewing]

I cant resist showing off the new software that automatically identifies the bullish symetrical triangle pattern , and shows the two hammers that presented the ideal buying opportunies over the last couple of months (in light red)
It doesnt project a very big target though (blue square) :+(

What software produces that nifty chart peat?

[peat]

MarketMaker v5
see my post.
http://www.sharetrader.co.nz/showthread.php?4279-MarketMaker-5.3&p=317848&viewfull=1#post317848

[Lion]

It doesnt project a very big target though (blue square) :+(

Peat, the blue rectangle may have got bigger since the price rose since you posted - yes?

A great day for PRC, let's hope this really was the start of a turnaround. Feels like it to me.

Incidentally, the meaning of your signature could change depending on the punctuation used. (Not that I'm being negative)

"buy, sell, sell, buy, try, try never, say die"

[blockhead]

Up 5% in NZ and over 9% in Oz, the Ausies love their miners don't they

[JoeBlogs]

With strong PMI data out of the US overnight reaffirming the numbers and reports out of China, I'm expecting big things from PRC today - although who knows with NZ markets?

Yesterday we busted through the top of peat's simmetrical triangle, today I'm looking at a the longer term triangle, the top of which is defined by the (adjusted) May 09 and Apr 10 highs. If we can close above 1.08, the next resistance is the potential double top at 1.11, then the May 09 closing high at 1.18. After that, the freight train cometh, and it's loaded with coal.....

peat, do you know how to get market maker to adjust charts for share issues? My chart is way out, still showing the June 08 high around 2.50.

[peat]

no way to do that that I know of
its part of their poor data feed I would imagine - yes that sort of stuff is annoying

[Baddarcy]

With strong PMI data out of the US overnight reaffirming the numbers and reports out of China, I'm expecting big things from PRC today - although who knows with NZ markets?

Fontera had a kick arse night with their dairy auction pricing up almost 17% over last month. Our market usually loves it when Fontera do well.

I also cannot help but think the SCF bailout is really good for our markets also, that $1.6b is going to need to find a new home in a few weeks time.

[JoeBlogs]

Fontera had a kick arse night with their dairy auction pricing up almost 17% over last month.

That's good news alright, although likely to strengthen the dollar. Can't win 'em all I guess ;)

[skid]

i personally dont think much of that 1.6B will make it into any shares.If I just got a "get out of Jail free card" from a major hit on my retirement $,Id be tucking it away in a nice safe term Dep. But I think there are still plenty of things going Pikes way. Fundamentally its a dream...Its just that nasty ole market side of things that could spoil the party,like a monster ready to gobble up all things good and bad...still,wish I had a few more extra bucks...

[777]

If the quotes hold then they are going to open up another 5c this morning.

[patrick]

Options to hit 17cents today?

[blockhead]

Blocky is happy he doubled up @ 15c yesterday

[JoeBlogs]

And they're off! Looks like they might hit 18 very soon patrick! Must say, I love the lack of sell depth!

[777]

For the great sum of $9,202.64 you could take all the sellers out.

[Corporate]

Well after a long time watching I picked up 10,000 pike today. Not a big investment but I'm in :-)

Quite stoked about this purchase. Now up 11% in exactly a week.

[Monkey Poms]

Close to midnight in the UK Pike hits $1.10 hope it's still there in the morning.

Monkey Poms.

[mouse]

:)Instead of using hydraulic mining to get the coal out, we could try a bit of Pneumatic Mining. We could harvest the Hot Air from this link and send it down the mine. Lots of coal would fly out.:cool:
:)But seriously, things look pretty good. If I had a bit of the $1.6billion I would increase my holding in Pike.:mad ;: At times like these you need cash, then some more cash. Waiting for the dividends. November next year?:)
The book is now open on the amount of dividend next year.:D But not on Pakistan cricket scores.:p

[Beagle]

Quite stoked about this purchase. Now up 11% in exactly a week.

Roger that !! Had a crack at NZO as well for good measure.

[geezy]

brace for the ride guys, this must be it!

[RRR]

Hitting the speed bumps!!

[Dr_Who]

PRC will prove to be the saviour of NZO.

[BigBob]

PRC will prove to be the saviour of NZO.

Just like NZO was the saviour of PRC... and I mean that literally...

[Casa del Energia]

.. And when (if) they get to 1 million tonne production - for those who ever wondered, a one million tonne pile of coal would be cone 88 metres tall with a 176 metre circumference base. (assuming a specific gravity of 1.4 - pike coal might be denser).

(Yes, that's right - I have no life, yes - it was a thrill to calculate it, No I don't read Lagrangian calculus for relaxing bed time reading).

[manxman]

.. And when (if) they get to 1 million tonne production - for those who ever wondered, a one million tonne pile of coal would be cone 88 metres tall with a 176 metre circumference base. (assuming a specific gravity of 1.4 - pike coal might be denser).



The Specific Gravity of 1.4 is too high. Coal floats. Having a specific gravity a bit under 1 makes it easy to flume. Pike is probably about 0.85 as a solid but may have porosity. In addition, the bulk stack will have lots of void space, so I would work on a bulk density of 500 kg/m3 in the stack.

Your 176 metre circumference implies a 28 metre radius, which with an 88 metre height gives a slope of 3.14 vertical to 1 horizontal, which seems a tad steep.

But dream of coal anyway, in huge black shiny heaps reaching up to the sky.

[digger]

.. And when (if) they get to 1 million tonne production - for those who ever wondered, a one million tonne pile of coal would be cone 88 metres tall with a 176 metre circumference base. (assuming a specific gravity of 1.4 - pike coal might be denser).

(Yes, that's right - I have no life, yes - it was a thrill to calculate it, No I don't read Lagrangian calculus for relaxing bed time reading).

A bit rought mate,we both know it would be 87.84 metres tall.

[Billy Boy]

Coal floats. .

??? You sure ???
Then How did the Japanese store thousands of tons of the stuff on the sea bed
back in the 70's & 80"s.
Back to the calc's Boys
BB

[Casa del Energia]

The Specific Gravity of 1.4 is too high. Coal floats. Having a specific gravity a bit under 1 makes it easy to flume. Pike is probably about 0.85 as a solid but may have porosity. In addition, the bulk stack will have lots of void space, so I would work on a bulk density of 500 kg/m3 in the stack.

Your 176 metre circumference implies a 28 metre radius, which with an 88 metre height gives a slope of 3.14 vertical to 1 horizontal, which seems a tad steep.

But dream of coal anyway, in huge black shiny heaps reaching up to the sky.


Rats - forgot about the voids.
Double rats - I meant 178 metre DIAMETER. - that's a 45 degree slope - which is j-u-s-t stable as long as the alpine fault is quiet at the time.

But coal does not float(?) - it's light and that's why you can flume it. Anthracit is supposed to be about 1.5 - some of those brown lignites might be light enough(?) - dunno myself.

[percy]

May I ask how many coal wagons would this amount of coal fill?
Well done every one.I had to pay 16.1 cents for the PRCOA's I brought today.

[Lion]

I composed this before you made your last post, Casa, but having done my calculations, I'm gonna post them anyway. I think they agree with your amended calcs pretty well.



Coal floats? I don’t think so. This website gives the density of two types of coal. Both the solid figures are over a density of 1, i.e. don’t float


http://www.simetric.co.uk/si_materials.htm

I don’t have much of a life either, couldn’t resist doing the calculations. Using the broken density of anthracite of 1.105 and a heap diameter of 200m, gives a height of 86m for heap of a million tons.

[Casa del Energia]

A bit rought mate,we both know it would be 87.84 metres tall.

Yeah, You're right - really slack - I'll go to six significant digits if ever I post calcs again.

[Billy Boy]

No Lignite dont float either.
Coke does !!!! Dead stoats do. Them ducks do
BB
oh... Blocky does :D dunno about his hayburner :D

[Casa del Energia]

I composed this before you made your last post, Casa, but having done my calculations, I'm gonna post them anyway. I think they agree with your amended calcs pretty well.



Coal floats? I don’t think so. This website gives the density of two types of coal. Both the solid figures are over a density of 1, i.e. don’t float


http://www.simetric.co.uk/si_materials.htm

I don’t have much of a life either, couldn’t resist doing the calculations. Using the broken density of anthracite of 1.105 and a heap diameter of 200m, gives a height of 86m for heap of a million tons.

Sounds good - and we're well within the same order of magnitude. I'll take your calc as the closest - it has more an better parameters.

So glad to hear that I'm not the only sad individual out there.

[Lion]

While logged in, I'm going to have a little skite about buying PRCO, Aussie options. I got a few thousand at 9c last week, and more before that at 10c. There's a huge standoff in the market for them still - buyers 9.7 (cheeky buggers!) and sellers at 17c. There were no sellers at all for a long time, 10 days or so. Because of no sales for a long time, the last sale price is still shown at 9c (me) and it looks like I haven't made a profit yet.

Anyway, enough about me. These are exciting times for NZO and PRC. It's been a long wait, and I think there's lots more to come yet.

[Casa del Energia]

While logged in, I'm going to have a little skite about buying PRCO, Aussie options. I got a few thousand at 9c last week, and more before that at 10c. There's a huge standoff in the market for them still - buyers 9.7 (cheeky buggers!) and sellers at 17c. There were no sellers at all for a long time, 10 days or so. Because of no sales for a long time, the last sale price is still shown at 9c (me) and it looks like I haven't made a profit yet.

Anyway, enough about me. These are exciting times for NZO and PRC. It's been a long wait, and I think there's lots more to come yet.

'Thanks', that's ruined my day - my last purchase (heads) was $1.13. It seems now that not only is my trigonometry up the wop - my investment skills are in dumbo territory as well.

[patrick]

Thanks for all the info about "The Stack" but that's a hell of lot of coal down the,what i consider,tiny flume which will be filled mostly with water.
Any calculations as to the quantity and speed of the water required to transfer a million tonnes pa?
Thanks.
PS Purchased more Oa's today at 16.1

[Lion]

'Thanks', that's ruined my day - my last purchase (heads) was $1.13.

Don't worry mate, that will seem cheap in a short time.

Does a coal wagon hold 50 tons? If so, it's 20,000 wagons for a million tons, percy.
At 30 wagons to a train, that's 667 trains.
So it's about 2 trains every day to move a million tons a year.

[manxman]

Rats - forgot about the voids.
Double rats - I meant 178 metre DIAMETER. - that's a 45 degree slope - which is j-u-s-t stable as long as the alpine fault is quiet at the time.

But coal does not float(?) - it's light and that's why you can flume it. Anthracit is supposed to be about 1.5 - some of those brown lignites might be light enough(?) - dunno myself.

I was wrong, Billy Boy is right about storing coal on the ocean bed. They did the same in Portugal at one stage. Just unloaded the boats in the bay and picked the coal up again when they needed it for the power station. Of course their Minister for the Environment was Geraldo da Brownlee.

I have seen coal floating in Wellington Harbour, but I didn't dive in and get a sample, so it was probably crap. The guys at the coal prep plant will know exactly what the figure is, because the sink/float properties are important in separating out the dolomite and other crap from the saleable coal. Anyway CdE, a good dream to have.

I prefer to think of a million tonnes as a ship 30 metres beam, 15 metres draught, and 4 kilometres long. Full of shiny black stuff.

[percy]

Don't worry mate, that will seem cheap in a short time.

Does a coal wagon hold 50 tons? If so, it's 20,000 wagons for a million tons, percy.
At 30 wagons to a train, that's 667 trains.
So it's about 2 trains every day to move a million tons a year.
Thanks Lion for that.I suppose I will enjoy having to wait at Clarence street for the coal trains.I saw the market was thin in Aussie with the seller at 17c.You did well at 9c.

[Lion]

You did well at 9c.

Yes, well, I suppose I should tell the whole story and not be like the gambler who only tells you about his winnings. I have 11k PRCO @ A9.5c (average) and double that of PRCOA that I paid NZ16.6c for, so I haven't quite made money on those. Not huge quantities, but I reckon they could well be multi-baggers.

Balance is quiet these days.

[JoeBlogs]

I'll give ya $25K for the lot in 7 months ;)

[Dr_Who]

Let the good times roll.

[Monkey Poms]

??? You sure ???
Then How did the Japanese store thousands of tons of the stuff on the sea bed
back in the 70's & 80"s.
Back to the calc's Boys
BB

Hi Billy Boy. Nip into the kitchen when the wife's not looking, borrow a wooden spoon and plastic bucket. Fill the bucket to the three quarter level with water.
Add magnetite ( you've got loads of that in NZ ), whisk the mixture with your wooden spoon until the magnetite is suspended in the water. Then place a lump
of Pike coal in the bucket - Voila! the coal will float! To achieve this I think the density should be around 1.2. After this chuck the bucket away as it's a bugger
to get the stains off.

Monkey Poms

[blockhead]

Billy Boy aint allowed in the kitchen, hes not fully house trained, he would perhaps get a temporary invite if he picked up a cray down the Catlins

[Balance]

While logged in, I'm going to have a little skite about buying PRCO, Aussie options. I got a few thousand at 9c last week, and more before that at 10c. There's a huge standoff in the market for them still - buyers 9.7 (cheeky buggers!) and sellers at 17c. There were no sellers at all for a long time, 10 days or so. Because of no sales for a long time, the last sale price is still shown at 9c (me) and it looks like I haven't made a profit yet.

Anyway, enough about me. These are exciting times for NZO and PRC. It's been a long wait, and I think there's lots more to come yet.

Heard it all before.

Take a profit and wait for the next obstacle - that's PRC. Thats' why it hits $1.13 and dwon she goes.

Stamina - that's what this game is about and PRC ain't got none. Give PRC 3 months and it will be back to shareholders for more cash.

[digger]

Heard it all before.

Take a profit and wait for the next obstacle - that's PRC. Thats' why it hits $1.13 and dwon she goes.

Stamina - that's what this game is about and PRC ain't got none. Give PRC 3 months and it will be back to shareholders for more cash.

Wondered where you had got to Balance. Still planning to accumulate i take it given your last post.What do you recogn you will be able to talk it down to.If you suceed you will kill two birds with one stone as for now NZO is linked in lock step.So we can look forward to some more mushroom talk can we?

[Balance]

Wondered where you had got to Balance. Still planning to accumulate i take it given your last post.What do you recogn you will be able to talk it down to.If you suceed you will kill two birds with one stone as for now NZO is linked in lock step.So we can look forward to some more mushroom talk can we?

LOL - just sobering up the Pikers a bit so that they do not get carried away - like they inevitably do many times before.

Ably assisted by PRC of course with its string of broken promises.

And PRC ably assisted by Pikers who loyally convey management's mis-assurances in the past like gospel truth.

Hope your hopes this time round is not crushed like in the past 5 times.

[Monkey Poms]

Heard it all before.

Take a profit and wait for the next obstacle - that's PRC. Thats' why it hits $1.13 and dwon she goes.

Stamina - that's what this game is about and PRC ain't got none. Give PRC 3 months and it will be back to shareholders for more cash.

Welcome back Balance sit back and watch your investment grow, There will always be obstacles in mining i think Pike are through the major ones.
From now on may all Pikes obstacles be little ones.

Monkey Poms

[Lion]

I'll give ya $25K for the lot in 7 months ;)
Oh, sorry, I'd like to mate, but Balance has already offered me $35k

[JoeBlogs]

Bugger! Oh well, you snooze you lose.

[mouse]

Welcome back Balance sit back and watch your investment grow, There will always be obstacles in mining i think Pike are through the major ones.
From now on may all Pikes obstacles be little ones.

Monkey Poms
A mate used to work at the Blackball Mine. Now closed, but plenty of coal still in it. Which demonstrates that mining is high risk but it looks at present Pike share prices to be profitable. Anything can happen, we could have another major catastrophic earthquake on the West Coast etc. No bale-out for Pike shareholders as was done for SCF depositors. So there are major risks. The upside is we have all the coal below ground. Mining shares should decrease in price as more coal is taken out. The capital is being eroded, or in our case, washed away and sent to Asia. Any ideas of how much our dividend should be once we get into steady mining at 850,000 tonnes per year? That, plus our take-over of Solid Energy, should indicate our share price.

[Dr_Who]

Yes anything can happen.

There could be another flood in Aussie and coal prices go through the roof yet again.

[JoeBlogs]

Or 120 km long traffic jams in China could cause a backlog...

[Billy Boy]

That, plus our take-over of Solid Energy, should indicate our share price.

SShhh Mouse :mad ;::mad ;:
It's supposed be another 2 years before that paper is leaked :mad ;:
God dammit man !!!
BB ;)

[Balance]

A mate used to work at the Blackball Mine. Now closed, but plenty of coal still in it. Which demonstrates that mining is high risk but it looks at present Pike share prices to be profitable. Anything can happen, we could have another major catastrophic earthquake on the West Coast etc. No bale-out for Pike shareholders as was done for SCF depositors. So there are major risks. The upside is we have all the coal below ground. Mining shares should decrease in price as more coal is taken out. The capital is being eroded, or in our case, washed away and sent to Asia. Any ideas of how much our dividend should be once we get into steady mining at 850,000 tonnes per year? That, plus our take-over of Solid Energy, should indicate our share price.

That is bizzare logic. On that basis, Africa should be the richest country in the world but it is not. Why? Minerals in the ground is worth bugger-all until it is mined and sold for cash.

[bung5]

That is bizzare logic. On that basis, Africa should be the richest country in the world but it is not. Why? Minerals in the ground is worth bugger-all until it is mined and sold for cash.

Africa a country now? Think Bolivia should be the richest country with all their minerals.

[Billy Boy]

That is bizzare logic. On that basis, Africa should be the richest country in the world but it is not. Why? Minerals in the ground is worth bugger-all until it is mined and sold for cash.

What are you saying balance ???? :confused:
Africa is the richest country in the world !!!
It's wealth is just, as yet, unrealised !! :p
BB
:D

[mouse]

That is bizzare logic. On that basis, Africa should be the richest country in the world but it is not. Why? Minerals in the ground is worth bugger-all until it is mined and sold for cash.
So when we get our lot of coal out, say 850,000 tonnes per annum, estimates of dividend please.
Africa has to get a working mine, pay off the army, get the locomotive back on the rails plus the coal trucks, repair the railway line, set up maintenance facilities for the mining equipment, refurbish the port and just sit back and take the money.
We have a working mine, a working railway and a working port. Our coal ships are not in a six week queue to dock at the port. Plus we have maintenance ability for the mining equipment. Our Pike shares are worth a dollar or so. $1.07 seems pretty cheap, particularly if Africa is the other option.
Which is why Monkey Poms is invested in Pike. Consider the alternatives!

[LJB]

Africa could be the richest continent in the world but is made up of lots of dysfunctional countries.
South America could also be the richest continent but is made up of dysfunctional countries like Bolivia.
Australia is both a country and a continent. Canada half a continent. US half a continent. All lucky, well governed and rich.

[mouse]

Africa could be the richest continent in the world but is made up of lots of dysfunctional countries.
South America could also be the richest continent but is made up of dysfunctional countries like Bolivia.
Australia is both a country and a continent. Canada half a continent. US half a continent. All lucky, well governed and rich.
Can we join Australia?

[Dr_Who]

Africa could be the richest continent in the world but is made up of lots of dysfunctional countries.
South America could also be the richest continent but is made up of dysfunctional countries like Bolivia.
Australia is both a country and a continent. Canada half a continent. US half a continent. All lucky, well governed and rich.

If you read the history of Africa, you cant solely put the blame on them for today's problems. The advance nations continues to create problems in the background so that they can reap the benefits of its natural resources.

[Casa del Energia]

So when we get our lot of coal out, say 850,000 tonnes per annum, estimates of dividend please.
Africa has to get a working mine, pay off the army, get the locomotive back on the rails plus the coal trucks, repair the railway line, set up maintenance facilities for the mining equipment, refurbish the port and just sit back and take the money.
We have a working mine, a working railway and a working port. Our coal ships are not in a six week queue to dock at the port. Plus we have maintenance ability for the mining equipment. Our Pike shares are worth a dollar or so. $1.07 seems pretty cheap, particularly if Africa is the other option.
Which is why Monkey Poms is invested in Pike. Consider the alternatives!

Well, more dodgy arithemetic is called for then. The financial report said operating loss of 50m - I know its less some revenue - but at a rough guess, if I take that a operations cost and assuming $NZD220 per tonne - (FOB) - 850Kt nets 187m revenue - less 50m operating/finanicial charge and rat trap costs -less 10m royalties and beer tab for the crown - that’s 127m. Company tax (rat bag IRD) - 88million bottom line - 22c per share, retain 50% - 11c dividend.

Anyone care to tighten up on the mountain of assumptions and guessing here?

[Baddarcy]

Well, more dodgy arithemetic is called for then. The financial report said operating loss of 50m - I know its less some revenue - but at a rough guess, if I take that a operations cost and assuming $NZD220 per tonne - (FOB) - 850Kt nets 187m revenue - less 50m operating/finanicial charge and rat trap costs -less 10m royalties and beer tab for the crown - that’s 127m. Company tax (rat bag IRD) - 88million bottom line - 22c per share, retain 50% - 11c dividend.

Anyone care to tighten up on the mountain of assumptions and guessing here?

Yeah alright then :-)

In a report earlier they mentioned that costs were about $7m per month at the mine and rail costs were $40 per tonne. So, using those figures total costs if producing 850kt would be $118m, revenue would be 850,000 * 225 / 0.71 = $269m giving a profit of $151 or 37c per share.

I remember reading somthing somewhere that they were planning on paying 50% of free cash flows as dividends... so all going well the dividends are looking good, even better if they hit 1mt p.a.

[the machine]

Can we join Australia?

I thought NZ had an Australian postcode already

M

[digger]

Any news from the coast regarding effect earthquake has had on Pike tunnel. This has been in the back of my mind as the wild card screw up progresss now that the human factor is getting under control. Anyone else got the feeling that the world lately has had more than usual earthquake activity?

[Kees]

Any news from the coast regarding effect earthquake has had on Pike tunnel. This has been in the back of my mind as the wild card screw up progresss now that the human factor is getting under control. Anyone else got the feeling that the world lately has had more than usual earthquake activity?

railway line is closed

[Baddarcy]

railway line is closed

Shouldn't matter, the ship is due today so the coal would have already all been at the port by now. Problem more likely to be the port not able to load the coal onto it or it not able to dock. LPC website is down so can't have a look at the webcams.

Hope Mouse is ok !!

[Baddarcy]

Shouldn't matter, the ship is due today so the coal would have already all been at the port by now. Problem more likely to be the port not able to load the coal onto it or it not able to dock. LPC website is down so can't have a look at the webcams.

Hope Mouse is ok !!

Just found this quote "The Port of Lyttelton, the main trade gateway to the south island, suffered “hundreds of millions of dollars in damage,” Chief Executive Peter Davie said. "

Doesn't say it is closed though...

[Baddarcy]

Just found this quote "The Port of Lyttelton, the main trade gateway to the south island, suffered “hundreds of millions of dollars in damage,” Chief Executive Peter Davie said. "

Doesn't say it is closed though...

Sorry seem to be quoting myself :-)

Found this quote "Radio NZ: Significan damage to the Port of Lyttleton. Port still operational "

Phew....

[Ian]

Any news from the coast regarding effect earthquake has had on Pike tunnel. This has been in the back of my mind as the wild card screw up progresss now that the human factor is getting under control. Anyone else got the feeling that the world lately has had more than usual earthquake activity?

I guessing it will at least affect the rail system around Christchuch until the lines are check and fixed

[Wiremu]

A reliable source advises that there is no damage at the mine site, and no damage to the mine. The comment was that the earthquake was not felt underground at the mine, and there is no cause for concern.

[bung5]

Anything can happen, we could have another major catastrophic earthquake on the West Coast etc. No bale-out for Pike shareholders as was done for SCF depositors. So there are major risks. .

you spoke too soon!

[JoeBlogs]

Thanks for that Wiremu. Hopefully things don't get too bad in Christchurch, apparently it was extremely scary. Was in Palmy the other day when there was a very small quake, I thought at the time "I wonder when the next big one will be?" Unfortunate it was so close to such a large population base.

[winner69]

This earthquake was not on the Alpine Fault line so prob not too bad in the places like Hamner where quakes are often pretty shaky .... and West Coast prob only a mild shake

Geologist on TV said can't say what this might do to the Apline Fault but usually has some consequences. as the earth settles down again

[bermuda]

Thanks Wiremu,
I thought of them ( Pike ) last night when I was rocking and rolling in my upstairs bedroom. It was very scary. Good to know everyone is safe. Our power and water are back on. Well done Christchurch.

[the machine]

coal loader looks ok from the wbcam

but of course thereis the retreiver and conveyors

M

[the machine]

coal loader looks ok from the wbcam

but of course thereis the retreiver and conveyors

M

had a look at all the webcams and could not see any damage - also right now the pike ship may be about to be berthing

M

[manxman]

had a look at all the webcams and could not see any damage - also right now the pike ship may be about to be berthing

M

She doesn't seem to be berthed at the right place for loading coal, so maybe there is some problem yet to be revealed.

Has anyone thought of a way to blame PRC management for this?

[corporateraider]

Manxman
You can be sure that some posters are working on it!

[the machine]

She doesn't seem to be berthed at the right place for loading coal, so maybe there is some problem yet to be revealed.

Has anyone thought of a way to blame PRC management for this?

cranes are put out of the way when ships berth / unberth this is normal practice it alllooks good to me

M

[Balance]

Manxman
You can be sure that some posters are working on it!

But of course! If they had kept to the August schedule,the shipwould have been gone and $$$ in the bank.

[Agronomia]

http://www.lpc.co.nz/TempFiles/TempDocuments/2010%20Media%20Releases/Media%20Release%20LPC%20Operational%20Status%2004% 20September%202010.pdf

MEDIA RELEASE
LYTTELTON PORT OF CHRISTCHURCH - OPERATIONAL STATUS
Lyttelton Port of Christchurch has sustained damage from the recent 7.4 magnitude earthquake, centred approximately 40 kilometres from the port, however, the port is open.
We are working with all parties to ensure minimum affects on shipping and cargo transfer through the port. Our engineering and maintenance staff are assessing damage to infrastructure, power supply and other services. The container terminal has full electrical service and we expect to be able to resume all cargo operation by 1500 today with limited affects to forecasted shipping movements.
We will continue to advise as more information becomes available.
-Ends-
For further information contact:
PETER DAVIE Chief Executive Lyttelton Port of Christchurch 027 444 1254

[JoeBlogs]

Looks like all systems are go! Ship is now loading.

[mouse]

Shouldn't matter, the ship is due today so the coal would have already all been at the port by now. Problem more likely to be the port not able to load the coal onto it or it not able to dock. LPC website is down so can't have a look at the webcams.

Hope Mouse is ok !!
Mouse reports that Mousehole is intact. Some damage in Christchurch, but Mouse suspects that Port Lyttelton statement is made for the benefit of the insurance companies. Well, maybe not benefit! Never lose the opportunity of a crisis. The photos of squiggly railway lines on TV looked pretty good. I think Pike should be OK.

[JoeBlogs]

Good to here all is well mouse!

[blockhead]

Won't be any more coal coming across the plains for a while though, the line looks pretty knackered in places

[mouse]

Won't be any more coal coming across the plains for a while though, the line looks pretty knackered in places
Yes but we got all, or most, of our coal over for shipment before the quake. Brilliant timing. I will try to visit Lyttelton tomorrow to report. Other reports welcome, today has been a bit busy.

[the machine]

Yes but we got all, or most, of our coal over for shipment before the quake. Brilliant timing. I will try to visit Lyttelton tomorrow to report. Other reports welcome, today has been a bit busy.


The ship has not yet started loading- earlier it had a hatch open though - thus ship ready to load.

I see etd now put back to early Monday.

Wonder if there is the labor to load the ship.

M

[manxman]

Yes but we got all, or most, of our coal over for shipment before the quake. Brilliant timing. I will try to visit Lyttelton tomorrow to report. Other reports welcome, today has been a bit busy.

Hi Mouse. Can you find out if the coal berth still has enough water for a panamax?

[JoeBlogs]

It's loading now, can see the coal going into it

[Corporate]

It's loading now, can see the coal going into it


Where can you see it?

I've just gone to this page and can't really see anything....http://www.lpc.co.nz/RP.jasc?Page=N225P2

[LJB]

Nice and reassuring to have eyes on what is happening, and that the coal is all there and being loaded.

Just heard Kiwi Rail spokesman on National Radio this morning saying there is damage to Westcoast line between Darfield and Rolleston and should take only days to repair, so not too bad.

[manxman]

Nice and reassuring to have eyes on what is happening, and that the coal is all there and being loaded.

Just heard Kiwi Rail spokesman on National Radio this morning saying there is damage to Westcoast line between Darfield and Rolleston and should take only days to repair, so not too bad.

Picture at http://www.stuff.co.nz/the-press/news/christchurch/4097358/Canterbury-quake-over-but-fear-remains 2nd on left

[the machine]

the web cam for the coal berth shows coal loading - vessel etd 1300 monday

pike damn lucky the coal shipment was not a week later.

m

[Baddarcy]

pike damn lucky the coal shipment was not a week later.

m

Surely this must be the first time something of chance as actually gone Pikes way? Maybe things really have turned.

So to sum it all up, the Port is fine, the rail is fine, to mine is fine..... what do you think the chances are of Pike management actually being smart enough to put an annoument to the market tomorrow morning to advise as such?

[patrick]

Baddarcy;
No chance...those reading any news release would not understand!

[JoeBlogs]

Baddarcy;
No chance...those reading any news release would not understand!

Well, they can either release some information for us to misunderstand, or be inundated with emails.

[manxman]

Surely this must be the first time something of chance as actually gone Pikes way? Maybe things really have turned.

So to sum it all up, the Port is fine, the rail is fine, to mine is fine.....

Not sure about the port. Still loading the No 2 hold. Nothing in No 1 or Nos 3-7, and the ship leaves tomorrow morning.

[Paint it Black]

What a beautiful sight seeing the coal coming off the conveyor into the panamax being loaded on the LPC webcam. It's beginning to make the wait worthwhile. A very serene delivery after all the hard yards put in by the Pike Team - let's give them some credit.

[mouse]

Details of our earthquakes.
http://www.geonet.org.nz/earthquake/quakes/recent_quakes.html
Lyttelton OK, ship Isabella loading happily.
Empire Hotel, London Street, Lyttelton, damaged and due for demolition.
Christchurch City closed tomorrow due to damage.

[mouse]

Not sure about the port. Still loading the No 2 hold. Nothing in No 1 or Nos 3-7, and the ship leaves tomorrow morning.
20,000 tonnes may only fill two holds. The Isabella may load either solid energy coal then or go to oz.

[the machine]

Not sure about the port. Still loading the No 2 hold. Nothing in No 1 or Nos 3-7, and the ship leaves tomorrow morning.

etd now 1500 monday

m

[nwood]

Pike River Coal Limited

Announcement
as at 09:40:32, Monday 06 September, 2010 (NZT)
GENERAL: PRC: Pike River's second export shipment to set sail

PRC
06/09/2010 09:40
GENERAL

REL: 0940 HRS Pike River Coal Limited

GENERAL: PRC: Pike River's second export shipment to set sail

6 September 2010

PIKE RIVER'S SECOND EXPORT SHIPMENT TO SET SAIL

Pike River Coal's second export shipment of approximately 20,000 tonnes of
premium hard coking coal worth around $6 million is scheduled to depart Port
of Lyttelton later today for India.

Pike River chief executive Gordon Ward says despite some damage at the wharf
area at Lyttelton as a result of the 7.1 magnitude earthquake that hit
Christchurch in the early hours of Saturday morning, coal loading on the
'Isabella' panamax vessel commenced on Sunday, just one day later than
planned.

"Our coal was already stockpiled in Lyttelton ready for loading and will soon
be on its way to one of our life-of-mine customers, Gujarat NRE who were also
the recipients of our first export shipment in February this year," says Mr
Ward.

"The Port of Lyttleton has confirmed that while there had been some damage to
the port infrastructure around the coal loading area, this has had limited
affect on our shipment and the vessel is expected to depart today. "

Meanwhile, while tremors were felt across the West Coast, there was no impact
on the undergound mine workings or surface facilities at the mine, the coal
preparation plant, or the train loading facilities at Ikamatua. All mine site
surface buildings and access roads, bridges and embankments have been checked
and show no signs of damage.

"Miners working underground at the time of the earthquake were unaware of the
event and felt no effects," says Mr Ward.

"The Midland rail-line suffered some track damage and required some quite
extensive inspections to structures and the like, however it re-opened for
service late yesterday afternoon."


All looking good.

[manxman]

20,000 tonnes may only fill two holds. The Isabella may load either solid energy coal then or go to oz.

Just switched to No 4 hold. Looks like she will just load 20,000 tonnes of PRC and leave light. Otherwise all seems well.

[JoeBlogs]

Bravo Mr Ward, even managed to release the info before the market opened, AND I understood it all! I feel like I'm in bazaro world....

[mouse]

All looking good.
Further, we have the ability to stockpile coal both at the mine and Ikamatua rail loading site. So I think that even if there is a little bit of trouble with the Midland Line rail bridges, we should be able to cope for a couple of months. However the Midland Line has recently had oodles of cash spent on its bridges so I do not expect any trouble from that quarter. I am still very confident. Dividend between 10cents to 20 cents. This time next year.

[fabs]

Div. by this time next year?

Pig swarming season not until Sept. 2013

[Billy Boy]

I am still very confident. Dividend between 10cents to 20 cents. This time next year.

I am wondering if a div is the best... How about a share buy back. Coz we have had the shares diluted to hell with all
these options going and comming .....
thoughts ??
BB

[JoeBlogs]

I highly doubt you'd see any divy before 2012

[dsurf]

Could do both by having a Dividend & also buy back of a larger amount than any DRP

[mr.needs]

The railway line to the west coast has re-opened



NCMC SITREP: 7
Date: 06/09/2010
Time of issue 2030 hours
Event Name: Canterbury Earthquake

Rail status:
The TranzAlpine is scheduled to operate on Tuesday and Solid Energy coal trains from
the West Coast to Lyttelton have recommenced operation. Picton–Christchurch services
will return to normal after midday Tuesday. Normal service is operating south of
Christchurch. Customers have requested increased capacity on trains and ferries to
convey FMCG from North to South. Ferry capacity is able to cope. One extra return
sailing for commercial vehicles is scheduled to operate Tuesday evening.

[swissboy]

Good to see Rail opperations continuing. The Engine Pairs that have been transporting Coal from Ikamatua are currently on Rapahoe- Lyttleton and also Ngakawau- Lyttleton runs. When we get into full production, (soon) we will need 2 trains ( 4 engines ) daily. Which of the above are for Solid Energy collection, just as a point of interest.

[Mr Tommy]

Good to see Rail opperations continuing. The Engine Pairs that have been transporting Coal from Ikamatua are currently on Rapahoe- Lyttleton and also Ngakawau- Lyttleton runs. When we get into full production, (soon) we will need 2 trains ( 4 engines ) daily. Which of the above are for Solid Energy collection, just as a point of interest.

Todays Dominion has a bit about the Lyttleton port damage, and also mentions Pikes coal shipment getting away OK. It says "He (Gordon W) expected the next coal would be transported to the port after the buckled area of the Midland line was fixed"
So this must mean the coal for the 3rd shipment is ready to move.

[Billy Boy]

:)Dear Mr. Ward & BWR
Could we please have a webcam at the Ikamatua rail loading site.
A few others scattered around would also be nice.
Cheers & Beers to yous all (well done)
BB:)

[morv]

Swissboy,from memory, Rapahoe and Ngakawau are SolidEnergy loading sites and Stillwater is a private mine loading site

[patrick]

BILLY...BILLY
A webcam?
No chance; Gordon thinks we may not understand what we see.

[whirly]

Im on board at last. 3 weeks to hydro. Still many hurdles to overcome but the new machine is cutting the mustard. Nice to own something local.

[fabs]

Current Headlines
China to build $2bn railway for Iran In another indication of the growing ties between the two countries, China’s railways minister is expected in Tehran this week to sign a $2 billion contract to build a rail network for Iran.

PRC: more demand for that West Coast black gold?

[Dr_Who]

Big resistance at $1.10.

[Ian]

Big resistance at $1.10.

Resistance yes - BIG maybe not
I see that ASB (not sure of the others) has lifted the suspention of the margin trading for Pike.
The extra shares people picked up with the last capital rasing (and paid for with margin accounts) must be working themself out of those portfolios. That should relieve some of the past selling pressure

[Lion]

Resistance yes - BIG maybe not
I see that ASB (not sure of the others) has lifted the suspention of the margin trading for Pike.
The extra shares people picked up with the last capital rasing (and paid for with margin accounts) must be working themself out of those portfolios. That should relieve some of the past selling pressure

The shares have jumped a lot in value recently too - wouldn't that help lift the suspension?

[Monkey Poms]

Snore..... another fairly quiet day, half of todays action happened before the opening bell. Options still creaping upwards so can't really complain.

So anyone planning on going to the AGM?

and anyone want to be nominated as a director, with a few mates and myself i can probably scrounge up 0.1% of the votes :-)

Thought a lot about your post. I had hoped someone would put themselves forward for nomination as a director, but as yet there are no takers from the forum.
Tried to talk my cousin into putting his name forward in the past, tried again today. However, he needs a little convincing on whether or not he can command enough votesto have some chance with the vote.

There are at least 40 followers of Pike back here in the UK. I could scrounge together their votes. Not sure of the total, but it will be a substantial number. The shares are held by National Nominees NZ Limited, who are 5th on the list of the top ten investors in Pike River Coal. Together our group would hold the majority held by NN.

Pike is the property of its shareholders. Forum members need to have a presence to make sure we have access to information ( the truth good or bad ).
Tony is a Kiwi born and bred in Nelson. He is in his early forties, with an engineering background, one of the first to visit the Pike site in its jungle state, when asked to quote to design and build a conveyor system. I think he would have a lot to offer Pike.

The AGM on the 15th September is near. Should any member reading this like to support Tony by offering to vote for him at the 2010 annual meeting held on the 15th Nov 2010, you can reach him on the following e-mail address :
nelson@cyclesurgery.co.nz

Baddarcy, if Tony goes for it and you could both travel to the mine, the least you will get out of the day will be to sample a pie from the bakery at Wakefield on your way to Pike, ( best I have ever tasted ) and you get to see the coal stockpiles at Ikamatua and the mine site! Ask for a discount if Tony tries to sell you a bike!

Monkey Poms

[JoeBlogs]

Good thinking MP, Tony has my support.

[patrick]

80.,000 shares and over 400,000 options in support.
Do options enjoy a vote?

[Ian]

The shares have jumped a lot in value recently too - wouldn't that help lift the suspension?

The increase in the sp would enable the investor to purchase more stock (as the portfolio would be worth more) or not get more margin calls forcing them to sell - which of course would help to stop a bit of the downward pressure - but the bank would still have the same exposure to PRC -
So for it to be lifted the bank would need to have less exposure due to there customers now having sold down or there preception of the volatility may have decreased my guess a lot less exposure

[Hoop]

Big resistance at $1.10.

Doc
$1.10 is a "significant" line.. ... but I have this feeling that your meaning of "big" is different to mine..it could be a resistance or support line(can draw a line) but it could also be a point where the price may gap up through as well....so you can't really say it is a "big" resistance level but yes the 1.09 1.10 area is definitely one area to watch.

Drawing R&S lines and trendlines may seem a very easy & simple technique... however they can get rather complex at times as an investor has to identify the situation ...e.g in certain situations such as dealing with volatile stocks.

PRC is classed as a volatile stock but can fool people with its rather lengthy trading range lulls when the stock gets boring and goes nowhere. The latest breakaway gap up from its latest trading range proves that gap trading knowledge is needed.

I was already in and waiting and benefited knowing that gap ups were going to happen once the trading range ended. Gap analysis using S&R lines are very predictable to the point of being spooky More gap events will happen...read my link below and then practice drawing a chart and show when the next gap up price level may (and most probably) occur.

For me ..the Support & Resistance lines including gap analysis in near proximity to the shareprice that I'm watching are... the 1.00 1.06 (1.09/1.10) 1.12 S&R lines which show levels were gap up or down activity are present. The very exciting $1.20 resistance line (1.23) a triple top reference point..when (if) this 1.20 line is breached it could a new ball game for PRC shares.

So if you want to draw meaningful R&S lines for PRC you must use charts in the Candle or OLHC mode and draw S&R lines which include the gaps as points as well as peaks and troughs.

I suggest that anyone that tinkers with Support and resistance lines should know about TA Gap analysis anyway, as Gaps are a part of S&R line methodology but are so often ignored. (ever wondered why a share stopped rising or falling at a place where you didn't see a S&R line???) To save space on this post explaining about Gaps read Gaps and Gap Analysis - Chartschool...Its very easy to understand. (http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:gaps_and_g ap_analysi)

Disc overweight PRC

[Baddarcy]

80.,000 shares and over 400,000 options in support.
Do options enjoy a vote?

No just shares unfortunately, i have a fair few PRCOA's too :-)

[Baddarcy]

Good thinking MP, Tony has my support.

Yes me too i can probably rustle up 300k - 400k votes.

Won't be enough to win a place, but it would be nice to let the management know, we are not happy with the flow of information from the company.

[Baddarcy]

REL: 1533 HRS Lyttelton Port Company Limited (NS)

GENERAL: LPC: Solid Energy Force Majeure

Solid Energy Force Majeure

Due to the 7.1 magnitude earthquake and a succession of severe aftershocks, Lyttelton Port Company Limited has served Solid Energy New Zealand Limited with a Force Majeure notice. This is a precautionary measure and we will continue to work closely with Solid Energy to load coal. Since Saturday we have loaded a 20,000 tonne ship for Pike River Coal.

[iceman]

My small parcel of 28,000 shares will vote for Tony for the reason given by Baddarcy

[upside_umop]

Tony is a Kiwi born and bred in Nelson. He is in his early forties, with an engineering background, one of the first to visit the Pike site in its jungle state, when asked to quote to design and build a conveyor system. I think he would have a lot to offer Pike.

The AGM on the 15th September is near. Should any member reading this like to support Tony by offering to vote for him at the 2010 annual meeting held on the 15th Nov 2010, you can reach him on the following e-mail address :
nelson@cyclesurgery.co.nz

Baddarcy, if Tony goes for it and you could both travel to the mine, the least you will get out of the day will be to sample a pie from the bakery at Wakefield on your way to Pike, ( best I have ever tasted ) and you get to see the coal stockpiles at Ikamatua and the mine site! Ask for a discount if Tony tries to sell you a bike!

Monkey Poms

Ahh never mind!

Are people going to make a stand re communication at the AGM?

[percy]

MonkeyPoms.
I do not think it is fair to ask your cousin to stand for the board.NZO with over 30% will make sure they get who they want on the board and make your cousin look foolish.I agree with you management need a wake up call.
i would think the best course of action is for Tony and as many sharetraders as possible to attend the meeting and just ask the hard questions.one stand up and says he is not happy with updates.Gordon says no change.Next sharetrader stands up and says it is foolish to have to get the information from rail movements.Gordon says no change.Then bring out mouse who will tell Gordon as an owner he would like to be kept better informed,and that he is not impressed with Gordon's answers.A couple of here here from other sharetraders will wake Gordon.May have to do a GPG and have the meetings in London!!
Companies hate questions at AGMs.They want the meeting over as soon as possible.just keep the questions flowing.Make sure the media are there.They love unhappy shareholders.Management will hate the headlines.

[Monkey Poms]

MonkeyPoms.
I do not think it is fair to ask your cousin to stand for the board.NZO with over 30% will make sure they get who they want on the board and make your cousin look foolish.I agree with you management need a wake up call.
i would think the best course of action is for Tony and as many sharetraders as possible to attend the meeting and just ask the hard questions.one stand up and says he is not happy with updates.Gordon says no change.Next sharetrader stands up and says it is foolish to have to get the information from rail movements.Gordon says no change.Then bring out mouse who will tell Gordon as an owner he would like to be kept better informed,and that he is not impressed with Gordon's answers.A couple of here here from other sharetraders will wake Gordon.May have to do a GPG and have the meetings in London!!
Companies hate questions at AGMs.They want the meeting over as soon as possible.just keep the questions flowing.Make sure the media are there.They love unhappy shareholders.Management will hate the headlines.

Hi, Percy. Took some advice from a UK stockbroker on this matter. NZOG, Gujarat, Saurashtra, each have their own representatives on the board of PRC. Under normal circumstances they would be content with this and may not vote.
My stockbroker says only one in ten individual shareholders will bother to vote. The question mark hangs over the likes of the shares held by the Accident Compensation Corporate, NZ Superannuation Fund and Forsyth Barr Custodians.
During the period between the nomination and the actual vote we'll get to know who the nominees are, which is good. We want quality on the board. I think Tony would stand up to that. Now that we've alerted Pike management through this forum, we have made it more difficult for ourselves to get a voice on the board.

You are spot on with what you say regarding shareholders speaking up at the AGM. Wish I could be there. Would you or Mouse or others like to have a day out if it's possible to arrange something with Tony? This would raise the profile of ordinary shareholders! It doesn't matter if we lose on the vote. The point is, we care and are bothered.

Monkey Poms

[percy]

Hi, Percy. Took some advice from a UK stockbroker on this matter. NZOG, Gujarat, Saurashtra, each have their own representatives on the board of PRC. Under normal circumstances they would be content with this and may not vote.
My stockbroker says only one in ten individual shareholders will bother to vote. The question mark hangs over the likes of the shares held by the Accident Compensation Corporate, NZ Superannuation Fund and Forsyth Barr Custodians.
During the period between the nomination and the actual vote we'll get to know who the nominees are, which is good. We want quality on the board. I think Tony would stand up to that. Now that we've alerted Pike management through this forum, we have made it more difficult for ourselves to get a voice on the board.

You are spot on with what you say regarding shareholders speaking up at the AGM. Wish I could be there. Would you or Mouse or others like to have a day out if it's possible to arrange something with Tony? This would raise the profile of ordinary shareholders! It doesn't matter if we lose on the vote. The point is, we care and are bothered.

Monkey Poms
With very few voting it makes it very easy for the major shareholder to pick the board.ACC and others really need a big issue before they will stand up for other shareholders.They usually have a quiet word.At this stage I am not sure whether I will be going to the meeting.I hold a few PRCOA and have a few NZO.I am not keen on firing bullets at the board,as I have,and my daughter has, a lot of shares in estaronline of which Stuart Natrass PRC board member is the chairman and major shareholder.It would put me in an uncomfortable position.
However, I am sure there are enough sharetrader shareholders to ensure a very interesting meeting.The main thing is numbers.Not numbers of shares but 4 or 5 people standing up asking questions.And not being afraid of saying I do not think that is good enough.As an owner I am unmpressed with statements.The other thing to do is to give the chairman your proxy with instructions to vote against every motion.They hate it.I hope posters who will be attending will let you know so as you or Tony may organise an interesting meeting.

[RRR]

MP
Your cousin can count on my smaller number of votes.

[Unicorn]

Won't be enough to win a place, but it would be nice to let the management know, we are not happy with the flow of information from the company.

Have you made management aware that you are not happy with the (lack of) information from the company? What was their response, and where did that fall short of your expectations?

The AGM is perhaps the forum to bring up specific concerns, where inadequate progress has been made on a particular point of contention after management has been given sufficient opportunity to address the issue. But if you have an issue that you have not yet taken up with management, it is not helpful or productive to first bring it up at a public meeting.

If you are a shareholder in the company and you feel there are things that should be being done better, then you should address your concerns to management without delay. I can't see any gain in waiting for a public event and indulging in theatrics - even if the venting does make you feel a bit better.

[percy]

Have you made management aware that you are not happy with the (lack of) information from the company? What was their response, and where did that fall short of your expectations?

The AGM is perhaps the forum to bring up specific concerns, where inadequate progress has been made on a particular point of contention after management has been given sufficient opportunity to address the issue. But if you have an issue that you have not yet taken up with management, it is not helpful or productive to first bring it up at a public meeting.

If you are a shareholder in the company and you feel there are things that should be being done better, then you should address your concerns to management without delay. I can't see any gain in waiting for a public event and indulging in theatrics - even if the venting does make you feel a bit better.

Sage advice.

[Monkey Poms]

Good thinking MP, Tony has my support.

Thanks Joe.

Over 10 million shares up to now in support.

Monkey Poms

[Robomo]

Hi MP, you can add my 300,000 shares to your 10 million.
With due respect to Unicorn's perfectly reasonable advice it's only when issues get aired that some notice is taken of concerns. I'm sure that even if ACC, NZO and other big shareholders do not voice anything in public they do need to be made aware that perhaps PRC is not communicating with it's owners as well as it might. They in turn may well have a quiet word in private.
I sent an email to PRC recently detailing my concerns and requesting some basic advice on mining progress - no reply, not even an acknowledgement. I'm overweight with PRC in my portfolio so I am anxious to get all the information possible.
I'll be going to the AGM and will be asking questions. I went to the Invercargill meeting of the Roadshow a couple of years ago and had the opportunity to speak at some length with GW - he is a reasonable man, dealt with my questions satisfactorily then and I'm sure will listen and respond in the future.

[blockhead]

Before getting too stroppy at an AGM I think notice should be taken of Unicorns wise advice above, if no satisfaction after making enquiries then make your voice heard at AGM

[dsurf]

Just a suggestion: Do both ie, seek Tony's election & also make enquiries before that. It is in everyones benefit for valid concerns to be raised. It is in no-ones benefit to generate bad press and media sentiment which we have suffered for far too long!

[JoeBlogs]

Couple of small bids in at $1.18 and $1.19 this morning - not sure why you would do that when $1.11 is enough to give you first dibs?

[blockhead]

Joe, Gives them 1st crack at the available shares @ $1.09

I am thinking to myself, does the Timaru port have the ability to export coal, its a while since I've had a look around down there, perhaps not I suspect but if LPC was to have more trouble it might be the next option ??? The next port of call so to speak

[Baddarcy]

Couple of small bids in at $1.18 and $1.19 this morning - not sure why you would do that when $1.11 is enough to give you first dibs?

Yes i got all excited that maybe some news was imminent, the i saw it was only 4k at 1.19, but a decent sized buyer has appeared at 1.10 which should mean we start up a cent.

Sorry rambling a bit, but typing and thinking at the same time :-) Pike has always said hydro will start "mid September", for me that means between the 10th and 20th, before the 10th is early september and after the 20th is late September. So i guess if you were going to get in before hyrdo starts like Deutsche Bank advised their clients to do, today is your day to do it.

[Baddarcy]

Joe, Gives them 1st crack at the available shares @ $1.09

I am thinking to myself, does the Timaru port have the ability to export coal, its a while since I've had a look around down there, perhaps not I suspect but if LPC was to have more trouble it might be the next option ??? The next port of call so to speak

Doesn't Pikes agreement with Solid Energy mean that our coal takes precedence over Solid Energy's, so it doens't really matter to Pike if the LPC's capacity is reduced as we jump to the front of the queue each time anyway?

[JoeBlogs]

Looks like 'resistance' (psychological level?) at $1.10 is about to turn into support.....

[whirly]

Cool when did we get charts added to the bottom of the page? 20-25 september my pick for commencement of hydro.

[winner69]

Cool when did we get charts added to the bottom of the page? 20-25 september my pick for commencement of hydro.

Do I need to do something ... I see no chart ..... all i see is the cathay chick who'll love me even before I ask

[whirly]

http://www.sharetrader.co.nz/showthread.php?7964-How-to-get-stock-charts-at-the-bottom-of-your-threads

Winner it Looks like it only works wit threads with ticker in their title like this one. You should see it.

[MPC]

That chart is good. I had'nt looked that far down the page.
Aya is hot too

[Dr_Who]

There you go guys. :)

http://www.businessweek.com/news/2010-09-08/ubs-sees-mad-dash-for-coal-as-energy-steel-demand-gains.html

Let the good times roll.

[Lion]

Joe, Gives them 1st crack at the available shares @ $1.09


Is this correct, blocky? I thought there was a queue of buyers (and sellers) and front of the queue gets served first (so to speak) no matter what price they are offering.

I could be wrong. I can recall a few times getting more for sold shares than my selling price.

Can anyone clarify what happens if a buy price is greater than a sell price? I'm confused now.

[blockhead]

That is my understanding, perhaps I am wrong

[777]

Lion that can happen in both the opening and the closing phase. Nobody pays more than they bid nor does anyone get less than they offer them for sale. Blockie is correct. The highest bidder gets satisfied first then the next one down etc. The shares all go through at the same price so that the final quotes leave unsatisfied buyers and sellers only. There is a small risk in putting a high quote in as happened this morning. If all the sellers withdrew their sale orders then he may have settled at his bid price. Of course if he monitors his order he can also adjust it during the process.

The best way is to follow the closing phase tonight on an active share and work out for your self what will happen at closing time. It will come self evident then. Have a look at BHP at 6pm as there is usually a wide spread of quotes and is a good example of how it works.

Hope this makes some sort of sense.

[JoeBlogs]

That's why I was wondering why someone would bid $1.19 when $1.11 or $1.12 would have been enough to give them first dibs! Seems like you're exposing yourself to unnecessary risk.

[tony64peter]

At the opening there is an instaneous settlement within the parametres of buys and sells. The opening price is the average to the nearest cent of all contracts made at that time. As with this morning the $1.19 bid had first buy at $1.09 but the average was $1.10 so the open and his settle price was at $1.10. Cheers Tony
Is this correct, blocky? I thought there was a queue of buyers (and sellers) and front of the queue gets served first (so to speak) no matter what price they are offering.

I could be wrong. I can recall a few times getting more for sold shares than my selling price.

Can anyone clarify what happens if a buy price is greater than a sell price? I'm confused now.

[777]

Tony I think you will find that your average price is incorrect. For a start it would not give a whole cent. The process is simply to end up with unsatisfied bids at opening or closing time. The price set can be driven by either the buyers or the sellers depending how those quotes are the split second before market opening or closing.

[Lion]

Thanks for help here guys about settlements

[Hoop]

Doc
$1.10 is a "significant" line.. ... but I have this feeling that your meaning of "big" is different to mine..it could be a resistance or support line(can draw a line) but it could also be a point where the price may gap up through as well....so you can't really say it is a "big" resistance level but yes the 1.09 1.10 area is definitely one area to watch.

Drawing R&S lines and trendlines may seem a very easy & simple technique... however they can get rather complex at times as an investor has to identify the situation ...e.g in certain situations such as dealing with volatile stocks.

PRC is classed as a volatile stock but can fool people with its rather lengthy trading range lulls when the stock gets boring and goes nowhere. The latest breakaway gap up from its latest trading range proves that gap trading knowledge is needed.

I was already in and waiting and benefited knowing that gap ups were going to happen once the trading range ended. Gap analysis using S&R lines are very predictable to the point of being spooky More gap events will happen...read my link below and then practice drawing a chart and show when the next gap up price level may (and most probably) occur.

For me ..the Support & Resistance lines including gap analysis in near proximity to the shareprice that I'm watching are... the 1.00 1.06 (1.09/1.10) 1.12 S&R lines which show levels were gap up or down activity are present. The very exciting $1.20 resistance line (1.23) a triple top reference point..when (if) this 1.20 line is breached it could a new ball game for PRC shares.

So if you want to draw meaningful R&S lines for PRC you must use charts in the Candle or OLHC mode and draw S&R lines which include the gaps as points as well as peaks and troughs.

I suggest that anyone that tinkers with Support and resistance lines should know about TA Gap analysis anyway, as Gaps are a part of S&R line methodology but are so often ignored. (ever wondered why a share stopped rising or falling at a place where you didn't see a S&R line???) To save space on this post explaining about Gaps read Gaps and Gap Analysis - Chartschool...Its very easy to understand. (http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:gaps_and_g ap_analysi)

Disc overweight PRC

Oh..this is all too easy:cool:

Well I gave the HINT1.09/1.10 level when the next gap up would probably occur...yes its an intraday result so far and later price actions may close the gap..but at this moment it is a gap up

Spooky huh. Convinced yet?... No:mellow: not yet?:(


OK folks wheres the next gap level?:).... up or down this time? ;) I,ve given you the HINT

Had no responses last time:( Any this time?

http://i458.photobucket.com/albums/qq306/Hoop_1/PRC.png

[Dr_Who]

Thanks for the TA Hoop.

[Hoop]

:lol: There looks to be quite a gap in your chart between .94 and .90 which needs filling. :rolleyes:

shhhh... Yankiwi we don't want to scare away the Blue Ducks.:mellow:

[patrick]

There is a spot for a web cam tower ( well, pole) a few metres from the loading site...with $80 each from 20 odd we could be up and running.
Would we need Resource Consent?

[bung5]

There is a spot for a web cam tower ( well, pole) a few metres from the loading site...with $80 each from 20 odd we could be up and running.
Would we need Resource Consent?

I would rather the 500 options

[Monkey Poms]

There is a spot for a web cam tower ( well, pole) a few metres from the loading site...with $80 each from 20 odd we could be up and running.
Would we need Resource Consent?

Patrick Where do I send the $80.

Monkey Poms

[patrick]

Monkey Poms
To Gordon of course.

[Baddarcy]

There is a fair bit of stock on the market between 1.10 and 1.15, amost 500k shares. Unfortunately i think it is going to take a hydro announcement to get thru it.

On the positive thou, by my reckoning it's now "mid Septemeber" :-)

[Baddarcy]

Do you think the SMH knows something we don't ??? :-)

Telecom NZ losses dampen NZ stocks open September 9, 2010 - 10:14AM

NZPA

The New Zealand sharemarket opened higher this morning as fears about the strength of European banks eased on global stock markets, but was soon dragged down by Telecom's losses.

By about 11.30am, the benchmark NZX-50 index was down 13.819 points, or 0.437 per cent, at 3147.358.

Fletcher Building was up 3c to 819, Steel & Tube was up 3c to 245 and Cavalier was up 5c to 270. All are expected to provide services to the earthquake-hit Christchurch.

Advertisement: Story continues belowContact Energy rose 1c to 569, Pike River Coal rose 3c to 245 and New Zealand Refining rose 2c to 322.

Ryman was up 1c to 209, Nuplex was up 2c to 339, Michael Hill was up 1c to 67, SkyCity was up 1c to 288 and Sky TV was up 3c to 288.

Insurance company Tower rose 1c to 187.

In the red, Telecom NZ was down 10c after Crown Fibre Holdings released its shortlist for the Ultra-Fast Broadband initiative. The telco has made the 14-parties list, but wasn't prioritised.

It had put on a trading halt prior to the announcement, which was lifted at 10.30am.

Port of Tauranga was down 1c to 685, Air New Zealand was down 1c to 127, and Auckland Airport was down 1c to 127.

Rakon Limited fell 1c to 119, Fisher & Paykel Healthcare fell 2c to 30.

In the US, stocks rose on Wednesday as investors latched onto positive news out of Europe.

A successful Portuguese debt offering, as well as news that nationalised Irish lender Anglo Irish Bank would wind down assets, pulled global equity markets higher.

The Dow Jones industrial average rose 46.32 points, or 0.45 per cent, at 10,387.01. The Standard & Poor's 500 Index added 7.03 points, or 0.64 per cent, at 1098.87. The Nasdaq Composite Index climbed 19.98 points, or 0.90 per cent, at 2228.87.

[JoeBlogs]

Haha, yus! We're in the money!

It is indeed mid-September, but I've applied the 'Pike' factor so I'm expecting an announcement re hydro some time between the end of September and the end of October..... Prove me wrong Pike.

[Wilkins_Micawber]

It is indeed mid-September, but I've applied the 'Pike' factor so I'm expecting an announcement re hydro some time between the end of September and the end of October..... Prove me wrong Pike.

to the effect that there have been "teething" problems so hydro will now be Dec (I chose not to include a year), which of course with the Xmas period would mean late Jan ... ???

Pardon my cynicism but trust has to be earned and PRC haven't earned much of my trust as yet. I agree with your timing of the announcement JB - PRC have proven that they (seemingly) can't see delays coming so can only announce it to the market after the scheduled date has been passed.

[Hoop]

There is a fair bit of stock on the market between 1.10 and 1.15, amost 500k shares. Unfortunately i think it is going to take a hydro announcement to get thru it.

On the positive thou, by my reckoning it's now "mid Septemeber" :-)

Baddarcy
Depth figures are always in a state of flux... a shifting sands landscape..review the depth at say 2 hours later and it could be entirely different.

I use depth as a tool in my Support and Resistance level analysis.

When you find the next resistance line 1.12 in PRC chart the first question you should ask yourself is.. "I wonder how strong this resistance line is?"

Depth figures can give you some approximate idea at that precise moment in time as to how strong a near-by support or resistance level may be.. remembering that depth is just a snapshot of the situation at that precise moment in time (like taking a photo).

Below is the depth Baddarcy was refering to as of 8.40am before pre-opening

Bids

Quantity.. No.. Price
1,000........1... 109
10,343..... 2 ...108..... support area
2,467 .......1... 107
6,000....... 2... 106
37,503..... 5... 105..... support area
39,500..... 3... 101..... support area
1,000....... 1.... 98
5,000....... 1.... 97
20,795..... 3.... 96...... support area
20,000..... 2.... 95...... support area
38,000..... 2.... 90...... support area
1,000....... 1.... 89
20,000..... 1.... 82

Asks

Price... No...... Quantity
110...... 1....... 38,662
111...... 6....... 78,176
112.... 11...... 136,019...... Resistance area
113...... 3....... 49,004
114...... 3....... 41,105
115...... 8...... 154,788...... Resistance area
116...... 3....... 19,000
117...... 1....... 10,000
118...... 1....... 12,727
119...... 2....... 13,057
120...... 5..... 114,618....... Resistance area
125...... 2...... 25,648
135...... 1........ 2,500
165 ..... 1........ 3,700

I have written in key areas of S&R areas 111 may also be one but didn't write it in

When you analyse the depth you can see the S&R levels just like you see on a chart. This shows that the investor as a group are not random, they obviously have have their buy in & stop/loss at the most strategic levels.

The interesting thing is that 112 is easy to see on the chart as a S&R line..1.15 is not so easy to see and 1.20 of course is the most obvious, the previous peak tops level.

Notably absent and surprisingly are the distinct 98 99 100 support areas.. this means that as of that instant in time 8.40am today the charted support levels of 98/99 are very weak support levels. Monday however is a whole new day and the strength of the 98/99 levels may return..who knows.

http://i458.photobucket.com/albums/qq306/Hoop_1/PRC09092010.png

[mouse]

to the effect that there have been "teething" problems so hydro will now be Dec (I chose not to include a year), which of course with the Xmas period would mean late Jan ... ???

Pardon my cynicism but trust has to be earned and PRC haven't earned much of my trust as yet. I agree with your timing of the announcement JB - PRC have proven that they (seemingly) can't see delays coming so can only announce it to the market after the scheduled date has been passed.
We are trying to mine coal. We cannot expect everything to be running perfectly before March next year. Production will of course rise between now and then, but we must look at the big picture. Pike can of course tell us that hydro mining has started. Should they tell us when they get minor problems and stop for a few days to sort them out? My answer is NO. We must expect major news announcements, not minor ones. We are still in devolpment stage. Just prior to buying Solid Energy.

[Monkey Poms]

S_ _ T Bd by the time i realised you were joking i spent all my savings.

Monkey Poms

[whirly]

Gordons Gone...

10 September 2010

PIKE RIVER CHIEF EXECUTIVE

Pike River Coal advises that Gordon Ward, who has been CEO and Managing
Director of the company since May 2007, will leave Pike River with effect
from 1 October 2010.

Mr Ward has led Pike River from its initial conceptual design 14 years ago
through development to its second coal export shipment in September 2010, and
the imminent start-up of the hydro-mining operations.

The Board wishes to express its thanks to Mr Ward for his significant
contribution to the growth of the company over what has been an extended and
often difficult period of mine development.

An announcement regarding Mr Ward's successor will be made shortly.

ENDS

[Baddarcy]

Wow Gordons gone burger !!

I was only interested in one line to be honest "imminent start-up of the hydro-mining operations."

[JoeBlogs]

This could be a good thing....

[Robomo]

All very quick - 3 weeks notice and no successor. Obviously unexpected. Will we ever hear why???

[Hoop]

All very quick - 3 weeks notice and no successor. Obviously unexpected. Will we ever hear why???

Perhaps he has been reading too many ST posts and got depressed ;)
EDIT the market thought Wards departure will be negative for the company... dropped to its 1.06 chart support level.
...may pick up some more.

[winner69]

All very quick - 3 weeks notice and no successor. Obviously unexpected. Will we ever hear why???

Maybe he knows the hydro mining ain't going to work as expected

[blockhead]

I am sure we will get several versions of "why" but if we get the truth may be another matter

PRC could do worse than to make known the rerasons here

[winner69]

Not having much impact on the shareprice .... Ward won't be able to claim he was the $20m man if the shareprice doesn't fall 5 cents as a result

[root]

Not what you would call an orderly withdrawal, the Pike website release still describes the hydro mining as "imminent".

http://www.pike.co.nz/news.php&news_id=250

[digger]

Maybe he knows the hydro mining ain't going to work as expected


With every unknow come many theories. We have the negative one above.Lets try a positive one just for fun and balance but again just a theory with nothing to back it up other than it is possible. So GW is quitting because he knows that after so many years the mine is going to be very successful and as a private invester he will be free to buy as he pleases. OK as a private invester he can sell as required if you also want the negative.
With a lot of these things we really never do know the whole story.Remember a few years back when three independent directors resigned and we were never told why to this day.So why GW resigned only God and the directors know at this stage.

[JoeBlogs]

Of course, he could just be over all the stress and keen to enjoy his hard earned dosh

[Baddarcy]

I'm sure that it was planned all along. There are plenty of examples of companies bringing in new CEO's when the direction of a company is changing. In Pikes case, they are about to move from the delevopement phase into production phase, this is a fairly significant change for the company.

The skills required to get a mine up and running from nothing are likely to be very different from the skills required to maintain a producing mine so doesn't it make sense for Gordie to move on?

I suspect he was always planning on leaving once developement was finished.

[blockhead]

Lets see how long before we get an (un) Balanced view on things

[macduffy]

I've heard that BTU have Les McCracken, formerly of Pike River, working for them on a contract basis.

Could GW be planning to join him?

(BTU SP has been strong recently)

Disc: I hold BTU.

[Hoop]

I'm sure that it was planned all along. There are plenty of examples of companies bringing in new CEO's when the direction of a company is changing. In Pikes case, they are about to move from the delevopement phase into production phase, this is a fairly significant change for the company.

The skills required to get a mine up and running from nothing are likely to be very different from the skills required to maintain a producing mine so doesn't it make sense for Gordie to move on?

I suspect he was always planning on leaving once developement was finished.

Baddarcy.. I agree..I also thought this was the possible reason when I saw the announcement.

It also possible that Ward exit maybe due to something else ...but Baddarcys post seems the most logical reason....

I just bought 7000 more shares at 1.07 so I've put money on this exit option.

If it was anything that could have effected the shareprice I would assume that the resignation news would've come attached with a disclosure notice as well.

No attached disclosure notice so I'm going to assume everything at the mine is still on schedule.

[LJB]

Now he can't be accused of insider trading when he bails out of his PRC shares before the next big cock up in bringing the mine to full production.

[Balance]

It is time for PRC and Gordon to part company.

In all seriousness, it cannot have been fun for him but PRC is ready to mine.

If PRC is a success, all will be forgiven.

[Baddarcy]

I bet the bugger who picked up 198,498 at 105 is feeling fairly chuffed right now !!

The market never likes surprises, so not really much of a shock for the price to drop like it has today. Guess everyone missed the hydro is iminent statement, but they will click at some point and it will come back wuickly enough.

In a few months no one will even remember who Gordie is.

[Billy Boy]

"imminent start-up of the hydro-mining operations."

He does'ent leave till the end of the month, & He's done his time.
Now it's up to the "Shiney Arse's" to push a lot of paper around.
We still got a mine manager !!! etc....
what all the fuss about ??
BB

[fabs]

Thank you Gorden,for all the years and effort you put into this, and i do hope that in the near future this project will justify your dream, it has been a long time with many knock backs.
Here is wishing you all the best for your future.
Cheers
Albert B.

[Logen Ninefingers]

Why wouldn't he go once the hydro-mining start-up date has been announced? Why go straight after the July...ummm....August...ummm....September shipment departed? This is like J Skilling walking out and then saying "Waddaya mean? Things were going great when I was there!" Makes no sense to go now and pull the rug from under the SP.
A lot of these posts are reeking of desperation...."Pikes ready to mine" / The markets not reacting / 'Hydro-mining's emminent' etc......the way the cash is being burnt through they might need to tap the shareholders again before significant quantities of coal come out.
A psychologist would have a field-day with these posts. People who were lauding GW staunchly through years of missed targets are now tripping over themselves to say his departure won't matter a jot, he's yesterdays man, 'we're better off without him', (at least) "we've still got a mine manager". Talk about 'don't let the door hit you on the way out'. Ireckon everyone's now got so much skin in the game that the desperation is starting to show. Every negative is now trumpeted as a positive.

[digger]

Thank you Gorden,for all the years and effort you put into this, and i do hope that in the near future this project will justify your dream, it has been a long time with many knock backs.
Here is wishing you all the best for your future.
Cheers
Albert B.

Welll said fabs. All the best Gorden and thanks for sticking it out through the hard times.best of luck into the future.

[JoeBlogs]

I agree, while I think it's time for some fresh leadership at PRC, I certainly appreciate all the effort GW has put in - it was never going to be an easy job. Hopefully the new blood will bring fresh perspective (and perhaps a more shareholder-friendly culture).

[Beagle]

I agree, while I think it's time for some fresh leadership at PRC, I certainly appreciate all the effort GW has put in - it was never going to be an easy job. Hopefully the new blood will bring fresh perspective (and perhaps a more shareholder-friendly culture).

Amen to that mate. Couldn't agree more !! LOL also my post number 251.

[JoeBlogs]

Haha, I'm beating you by one.......

[Lion]

Now he can't be accused of insider trading when he bails out of his PRC shares before the next big cock up in bringing the mine to full production.

A little touch of negativity here, LJB, don't you think?

How about this instead . . .

Now he can't be accused of insider trading when he buys up large on PRC shares before the next big surge to full production.

Time will tell which of us is correct.

[Logen Ninefingers]

I guess LBJ's just going on past history, which is all you can really judge on. I think the 'insider trading' scenario is pretty far fetched.
Pike have missed every single target they've ever announced. When they have managed to get a shipment of coal away, the share price has spiked each time on the back of rampant jubilation, and then dropped back to around 88 cents as reality sets in.
Balance hasn't got anything critical this time round so that may indicate he's finally bitten the bullet and bought up large and will now be left high and dry as the SP drops again.

[Balance]

I guess LBJ's just going on past history, which is all you can really judge on. I think the 'insider trading' scenario is pretty far fetched.
Pike have missed every single target they've ever announced. When they have managed to get a shipment of coal away, the share price has spiked each time on the back of rampant jubilation, and then dropped back to around 88 cents as reality sets in.
Balance hasn't got anything critical this time round so that may indicate he's finally bitten the bullet and bought up large and will now be left high and dry as the SP drops again.

Why kick a man when he is down?

You do not see me criticizing Tony Gibbs when he was turfed out of GPG.

You take management to task when they are in positions of power.

Gordon is going and will soon be gone.

One wishes him well for the future.

[Lion]

Why kick a man when he is down?

One wishes him well for the future.

Aaww balance, you're an old softy after all

[mouse]

Hopefully there will not be anymore 'resignations'. It destroys the work ethic of a company when a number of top people go at the same time. I wish Gordon well in his new career direction.

[the machine]

IMO there would be no PRC had it not been for GW

M

[brucey09]

senors
in my part of the world the head honcho no leave 6 months before errupting company success

[JoeBlogs]

brucey, I think that's a point that will be weighing on the minds of most of us. PRC would do well to provide some clarification ASAP, or their silence will incriminate them as it has done so many times in the past.

The timing on this one does seem strange, but I'm not going to speculate re the reason for GW's departure.

[Ian]

GW may of course just be leaveing for person reasons (health)

[swissboy]

In that case why not use the opportunity to convey information to the ever suffering kept in the dark shareholders. The whole message is full of missinformation. It could also be immenent in 6 month and they dont have to update us in line with their promise until mid September which is in another 4 days. So will they then update us on that as well as G M's reasons or will we have to do our own research, yet again

[Wilkins_Micawber]

brucey, I think that's a point that will be weighing on the minds of most of us. PRC would do well to provide some clarification ASAP, or their silence will incriminate them as it has done so many times in the past. The timing on this one does seem strange, but I'm not going to speculate re the reason for GW's departure.


In that case why not use the opportunity to convey information to the ever suffering kept in the dark shareholders. The whole message is full of missinformation. It could also be immenent in 6 month and they dont have to update us in line with their promise until mid September which is in another 4 days. So will they then update us on that as well as G M's reasons or will we have to do our own research, yet again

I think that there is something negative in the wording of the announcement. Read between the lines of the announcement - I think it is what is not said which conveys the message. "Pike River Coal advises that Gordon Ward ... will leave Pike River with effect from 1 October 2010.". There is no "has resigned" or "has stepped down", just that he "will leave". The negative may or may not have anything to do with the "imminent start-up of hydro mining" or it's likelihood of success, but it smells to me of being encouraged or pressured to leave or just plain given the boot.

If he was leaving for personal reasons which were non-pressing then it seems rather unlikely that only 3 weeks notice would be given. If it was for health reasons or similiar it wouldn't have hurt PRC even to add "for personal reasons". If it was because of the new phase of the company (moving from development to a production company) then PRC should have included some explanation (however brief) to that effect.

As usual - we are left in the dark, trying to guess - no wonder the share price languishes - investors hate uncertainty and PRC seems to be right there at the top as far as fostering uncertainty goes.

I suppose??? we should be grateful for the one snippet they did deign to throw us - that is, the word "imminent" in relation to hydro start-up. Mind you, I am not sure what the meaning of imminent is in the planning dictionary which PRC uses. Maybe PRC thought that would placate shareholders and/or buy them a bit more time???.

[morv]

maybe hes got the experience and skills to interest bathurst in their westport startup mine

[fabs]

senors
in my part of the world the head honcho no leave 6 months before errupting company success


Yeah right, they execute the whole Management

[whirly]

Maybe... just maybe he has paid the price for the cockup that was the first 2 years of mining with the german equipment that kept breaking and didn't even fit in the tunnel. Why was that allowed to go on so long?

Pure speculation on my behalf lacking any information of real substance from PRC.

[peat]

a good excuse for a correction before the next wave up
markets need excuses not to move in straight lines. ;+)

[Hoop]

a good excuse for a correction before the next wave up
markets need excuses not to move in straight lines. ;+)
A Brilliant quote,...Peat
Copyright it quickly before I steal it.:cool:

[Corporate]

a good excuse for a correction before the next wave up
markets need excuses not to move in straight lines. ;+)


Excellent quote. I have the same sentiment about VMG.

[Logen Ninefingers]

Now that PRC have come through the stage where they needed a 'start-up GM' they are moving into the territory of requiring the services of a 'production GM'. This is pretty standard in business. Most of us knew that as soon as 2 shipments of coal left the docks for the Indian sub-continent, then it was time for a 'production GM and CEO' to take up they reigns. No doubt he'll be saying "I'll take it from here GW; your beloved blue ducks are in safe hands". In fact, I'd say most investors would sigh with relief that the 'start-up GM and CEO' has stepped aside, because now we know PRC are really cooking with gas.

[Baddarcy]

Just realised what time of the year it was, about time that the quarterly price for Oct - Dec 2010 is due to be set, looks like a slight drop to $USD209 per tonne. Not sure why but i feel a bit disappointed at it dropping a bit, but it is still a great price in relation to the long term average.

----------------------

Japan’s Mills Win 7% Price Cut for Coal From BHP, UBS Says
Sept. 1 (Bloomberg) -- Japanese steelmakers, the world’s second-largest producer of the metal, won a 7 percent cut in quarterly coking coal prices, the first reduction this year, from BHP Billiton Ltd., according to UBS AG.

Prices for the material used to make steel will fall to $209 a metric ton for the three months starting Oct. 1, from $225 a ton in the current quarter, UBS said in a note. A venture between BHP Billiton and Mitsubishi Corp. is the world’s biggest supplier of coking coal.

Prices for coal and iron ore are falling as China’s moves to curb property speculation and restrain credit growth sapped building and autos demand. BHP and Vale SA, the world’s largest suppliers of the two steelmaking materials, this year broke with the custom of setting prices annually by signing quarterly contracts, betting on rising prices.

“Lower prices, but still good outcomes for the producers, during a seasonally weak trading period,” UBS analysts including Tom Price said in the report dated Aug. 31.

JFE Holdings Inc.’s steel unit and other mills agreed to a 12.5 percent price increase for coking coal for the July-to- September quarter. That followed a 55 percent price gain in the April quarter.

Contract prices of iron ore sold by BHP and Rio Tinto Group will probably decline 11 percent in the quarter starting Oct. 1, researcher UC361.com said, citing the average Platts index price.

Hayato Uchida, a spokesman for Tokyo-based Nippon Steel Corp., Japan’s largest steelmaker, declined to comment. Amanda Buckley, a spokeswoman with Melbourne-based BHP, also declined to comment.

--Editors: Tan Hwee Ann, Keith Gosman.

[Mark Martin]

I would like to thank my wise and industrious english cousins, the Monkey Poms, for putting my name forward on this forum as a possible candidate for selection to the board of PRC.

I have been humbled by the response I have received and believe I could count on 12 million share votes. This is quite amazing, but I don't feel this would be enough, as I have taken on board the comments of 'Percy' and must agree with him.

I am a shareholder in Pike and currently have over 40,000 standard shares. I have been fortunate enough to have been invited to visit the coal face at Pike and have seen the coal face to face, and believe me, the coal is there and not a stoat or weasel in sight, a surreal experience and one I will never forget. I have also had the pleasure of meeting with Peter Whittle a couple of times and believe we are all in good hands with him at the helm, an extremely experienced man, a real grafter and second to none in this role.

I sat in on a meeting with Peter Whittall, Gordon Ward and a couple of Monkey Poms earlier this year and in my view, Gordon seemed to be under a lot of pressure and he seemed to rely on Peter for a lot of the answers to questions put to him. What he has had to deal with, from DOC, politicians, greenies, cave-ins etc to getting coal to Lyttelton and onto the ships is anyone’s guess. As the company moves into it’s next faze, it needs a leader with a different skill set, but personally I would like to wish Gordon all the best for whatever he chooses to do next.

So for me, maybe next year, after I have had another year to absorb the feelings of the forum, I may put myself forward to take a more active role within PRC. Tell you what, the AGM in November will be interesting. I will be going, anyone want to be picked up from Greymouth Airport? My question will be, why did a Panomax ship come to Lyttelton to pick up only 20,000 tonne? If this was the case, it would treble the freight charge per tonne. There goes most of the profit. Shame Gordon won’t be there to ask!

Your thoughts?

Thanks, Tony M

[percy]

I would like to thank my wise and industrious english cousins, the Monkey Poms, for putting my name forward on this forum as a possible candidate for selection to the board of PRC.

I have been humbled by the response I have received and believe I could count on 12 million share votes. This is quite amazing, but I don't feel this would be enough, as I have taken on board the comments of 'Percy' and must agree with him.

I am a shareholder in Pike and currently have over 40,000 standard shares. I have been fortunate enough to have been invited to visit the coal face at Pike and have seen the coal face to face, and believe me, the coal is there and not a stoat or weasel in sight, a surreal experience and one I will never forget. I have also had the pleasure of meeting with Peter Whittle a couple of times and believe we are all in good hands with him at the helm, an extremely experienced man, a real grafter and second to none in this role.

I sat in on a meeting with Peter Whittle, Gordon Ward and a couple of Monkey Poms earlier this year and in my view, Gordon seemed to be under a lot of pressure and he seemed to rely on Peter for a lot of the answers to questions put to him. What he has had to deal with, from DOC, politicians, greenies, cave-ins etc to getting coal to Lyttelton and onto the ships is anyone’s guess. As the company moves into it’s next faze, it needs a leader with a different skill set, but personally I would like to wish Gordon all the best for whatever he chooses to do next.

So for me, maybe next year, after I have had another year to absorb the feelings of the forum, I may put myself forward to take a more active role within PRC. Tell you what, the AGM in November will be interesting. I will be going, anyone want to be picked up from Greymouth Airport? My question will be, why did a Panomax ship come to Lyttelton to pick up only 20,000 tonne? If this was the case, it would treble the freight charge per tonne. There goes most of the profit. Shame Gordon won’t be there to ask!

Your thoughts?

Thanks, Tony M
I think the 12mil votes is incrediable.I think it would be in sharetraders interests to give Tony our proxy, to vote on our behalves.Directors will get one hell of a fright that an "outsider" got so many.I am sure they will want to make themselves known to Tony , and with so many shares to vote will be interested in his views.Well done Monkey Poms and Tony.

[manxman]

My question will be, why did a Panomax ship come to Lyttelton to pick up only 20,000 tonne?

Tony M

That was immediately after the earthquake. Lyttelton have served a force majeure notice on Solid Energy so they are having some problems with the coal loading. The conveyor system seemed to get the 20,000 tonnes aboard at about the usual pace. When the ship initially berthed, she tied up about 200 metres west of the usual loading position. Then a couple of work boats were seen around her bow. She moved forward eventually and the Pike coal was loaded. She left light. They may be short of water depth at the quayside. The next ship will tell the tale. I don't think there was anything PRC could have done different.

[the machine]

panamax probably went to queensland to load balance of vessel -that is after waiting in the queue for a few weeks

M

[bermuda]

I would like to thank my wise and industrious english cousins, the Monkey Poms, for putting my name forward on this forum as a possible candidate for selection to the board of PRC.

I have been humbled by the response I have received and believe I could count on 12 million share votes. This is quite amazing, but I don't feel this would be enough, as I have taken on board the comments of 'Percy' and must agree with him.

I am a shareholder in Pike and currently have over 40,000 standard shares. I have been fortunate enough to have been invited to visit the coal face at Pike and have seen the coal face to face, and believe me, the coal is there and not a stoat or weasel in sight, a surreal experience and one I will never forget. I have also had the pleasure of meeting with Peter Whittle a couple of times and believe we are all in good hands with him at the helm, an extremely experienced man, a real grafter and second to none in this role.

I sat in on a meeting with Peter Whittle, Gordon Ward and a couple of Monkey Poms earlier this year and in my view, Gordon seemed to be under a lot of pressure and he seemed to rely on Peter for a lot of the answers to questions put to him. What he has had to deal with, from DOC, politicians, greenies, cave-ins etc to getting coal to Lyttelton and onto the ships is anyone’s guess. As the company moves into it’s next faze, it needs a leader with a different skill set, but personally I would like to wish Gordon all the best for whatever he chooses to do next.

So for me, maybe next year, after I have had another year to absorb the feelings of the forum, I may put myself forward to take a more active role within PRC. Tell you what, the AGM in November will be interesting. I will be going, anyone want to be picked up from Greymouth Airport? My question will be, why did a Panomax ship come to Lyttelton to pick up only 20,000 tonne? If this was the case, it 'swould treble the freight charge per tonne. There goes most of the profit. Shame Gordon won’t be there to ask!

Your thoughts?

Thanks, Tony M

If you can't spell Peter Whittall's name correctly you have not got my vote.

[brucey09]

senors
in my part of the world the head honcho no leave 6 months before errupting company success


Yeah right, they execute the whole Management

snr. fab
we pay snr. ward mucho dineros but no reason he go ? why ?

[bull....]

Cool about time GW was gone pike been nothing except a over promised and underperforming dog for so long , might even put the stock back on my watchlist now.

[mouse]

This is an excerpt from a report in The Christchurch Star, a free paper now but you did have to pay for the Christchurch Evening paper some years ago.
The Headline, page 1/., Friday September 10, 2010.
PORT FACILITIES HEAVILY DAMAGED.
The Port Company Chief exec, Peter Davie said the coal wharf Cashin Quay No.1, was bowed in places, had broken its back in others, and the land behind it had slumped.:(
A coal ship was able to sail last Monday but the travelling loader did not have full movement and the ship could not load at some hatches.:(
The report then detailed other damage to the rest of the port. Repair costs would have 'plenty of zeros' behind the bill.:(
Sorry to have to give you the bad news. It is bad and it will affect us. I have not seen any other reports on the port damage, but I would think they must now make a statement about it.:ohmy:
The good news is that Solid Energy is one of LPC's biggest customers. So all stops will be pulled out to repair the coal wharf.:)
I did ask the organist at my church, St Saviours, to check the large organ we have. She will check all stops! :)Many building in Christchurch are damaged from the quake. Some owners are gleefully pulling down historic buildings. Safety you know, plus a good site.:)
I have suggested the centre of Christchurch is rebuilt as a Shopping Mall to reflect our world today.:)

Mrs Mouse is a bit worried, but Mr Mouse thought it a jolly good bit of fun. The Vicars wife is returning from UK today as she is upset at having missed the action.

[Mark Martin]

If you can't spell Peter Whittall's name correctly you have not got my vote.

I sincerely apologise to you and Peter, the error is regretted. I have now corrected it.
TM

[fabs]

brucey09

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Quote Originally Posted by fabs View Post
senors
in my part of the world the head honcho no leave 6 months before errupting company success


Yeah right, they execute the whole Management
snr. fab
we pay snr. ward mucho dineros but no reason he go ? why ?

You have to ask Snr. Ward, everything else is pure SPECULATIONE

[mouse]

biggest customers. So all stops will be pulled out to repair the coal wharf.:)
I did ask the organist at my church, St Saviours, to check the large organ we have. She will check all stops.

Unfortunately, prior to checking the organ one of the 8foot pipes fell, a distance of about 10feet, onto the floor of the church. Could have been rather spectacular if she hit the note and the organ disintegrated.

[Baddarcy]

Hi Mouse, hope the last paragraph selles your fears a little :-)

-----------------------------------------

New Zealand’s state owned coal company Solid Energy has issued a force majeure in the aftermath of last week’s earthquake, despite continuing to reassure customers it does not anticipate the natural disaster will impact on its operations.

Solid Energy, which exported 1.6 million tonne last year, described the move as a precautionary step after the Lyttelton Port in Christchurch sustained USD 50 million in damages.

The producer rails its coal through the port but officials say the facility is operating and expects to load a coal shipment this weekend.

Solid Energy said that "Thanks to the efforts of KiwiRail and Lyttelton Port of Christchurch most coal trains are running from the West Coast to the port and an export coal shipment was loaded for Pike River earlier this week. A further coal shipment is scheduled to be loaded this weekend subject to some repairs being completed at the port in the next two days."

[mouse]

Hi Mouse, hope the last paragraph selles your fears a little :-)

-----------------------------------------

New Zealand’s state owned coal company Solid Energy has issued a force majeure in the aftermath of last week’s earthquake, despite continuing to reassure customers it does not anticipate the natural disaster will impact on its operations.

Solid Energy, which exported 1.6 million tonne last year, described the move as a precautionary step after the Lyttelton Port in Christchurch sustained USD 50 million in damages.
The producer rails its coal through the port but officials say the facility is operating and expects to load a coal shipment this weekend.
Solid Energy said that "Thanks to the efforts of KiwiRail and Lyttelton Port of Christchurch most coal trains are running from the West Coast to the port and an export coal shipment was loaded for Pike River earlier this week. A further coal shipment is scheduled to be loaded this weekend subject to some repairs being completed at the port in the next two days."
Hopefully the problem will not be too severe, but we have just had a shake as I am typing this!!!!!!!!!! Hence we can hope. Further, some of the shocks seem to be getting closer to my home and Lyttelton. So there is some uncertainty and we can hope things will be OK. Possibly churches should be built without spires, steeples or towers to protect them from 'Acts of God.'

[Logen Ninefingers]

Now that they've lost the guy who has been involved in the project for 14 years, who is stepping into his shoes? It's all very well to say that Pike needs new drive and energy to push into the production phase, but this is a messy and uncertain transition at a very critical juncture. Will PRC be able to secure the individual required? How long will it take and what will the cost to the project in terms of lost focus and momentum be? These are unknowns.

[Ian]

the sp drop hasn't been on large volumes so i would guess the inside view of GW leaving cann't be all bad

[patrick]

When i suggested a few days ago that a few of us send Gordon $80 to help with the Webcam cost i did not anticipate the flow of funds would enable him to retire.
All the best to him.