PRC Pike River Coal

[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.

[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 ?