PRC Pike River Coal

[RossT]

http://tinyurl.com/6fczqg

Increase to capital expenditure budget of $23 million.
Net additional funds of $10 million needed, are being arranged.

[Mr Tommy]

Final tunnel update has just been released on the Pike site.

"Pike River has been producing coal since 17 October, with the access tunnel within three metres of its target length of 2.3km. Given the proximity to completion, this will be the last update on the access tunnel progress"

[Nitaa]

ya know... just wondering here.... oil is looking a little like it might be changing direction.... and PRC had done a full 78% retracement from its high.... with a stop below .8 or.9 ... risk reward could be considered ok at 1.25 ish .... hmmmmm

78%. This figure may need revising

[Mr Tommy]

Just read the Sept quarterly report that has been emailed out tonight, has a photo of the first truck of coal. Great to see.

[RossT]

Just read the Sept quarterly report that has been emailed out tonight, has a photo of the first truck of coal. Great to see.

The fact they need to come up with another $10 million to cover a shortfall in the revised captial costs is a concern surely?

[dumbass]

ya know... just wondering here.... oil is looking a little like it might be changing direction.... and PRC had done a full 78% retracement from its high.... with a stop below .8 or.9 ... risk reward could be considered ok at 1.25 ish .... hmmmmm

peat , was thinking along same lines , risk seems clearly defined at 120 with 78.6 just below , good long with a divergent rsi

[Footsie]

I think the $1.00 mark is much more of a psychological target where it will put up a fight

[trackers]

*sniff* *sniff*, I smell a bargain!

Might pick some up this week, now that it is producing, commodity's starting to do ok again around the world, and $300 a tonne locked in anyway I'm surprised PRC is bucking the trend

[Dr_Who]

The fact they need to come up with another $10 million to cover a shortfall in the revised captial costs is a concern surely?

Any further cost further down the track that we dont know about?

[biker]

*sniff* *sniff*, I smell a bargain!

Might pick some up this week, now that it is producing, commodity's starting to do ok again around the world, and $300 a tonne locked in anyway I'm surprised PRC is bucking the trend

$300 a tonne is only locked in until March, and how much will they actually have available to market by then?

The price after that is now anyone's guess, as I understand it.