Bathurst Resources - BRL

[tony64peter]

SE look to be in the dodo.
http://www.stuff.co.nz/business/indu...ergy-directors

[YoungBuck]

Is that positive for BRL?

[BlackPeter]

Is that positive for BRL?

Obviously - if the coking coal price stays South for years to come, this would not be good for any coal miner. However not sure, what the reason for SE's woes is, and difficult to say without having seen their books. Not sure, whether they divested from all their somewhat unwise "think big" investing projects SE went into before it nearly went broke a couple of years ago. Could have something to do with that as well. Lets wait and see.

[Daytr]

Modi is certainly trying to boost India's economic activity but I wouldn't get too carried away. I just read a telling statistic that India only has 35 million tax payers ! That's about 2.5% of the population ! China as a comparison a communist state has over 300 million.

[tony64peter]

From a technical perspective Monday should be an interesting day with resistance at 6c.



http://www.coastval.co.nz/newsletters/ A good site for local news.

[BlackPeter]

True - given the recent spectacular rise and given how the SP seems to be glued to the upper boundary of the Bollinger channel, I could very well imagine some sort of breather coming up. On the other hand ... volume was increasing over the recent week (which would point to potential for a further rise), so not sure, how soon ...

Discl: sold some on Friday, but still holding lots ...

[Casa del Energia]

Observations from the coast, having spent a week or so there. I cannot say what SE books look like – probably not too flash. Talking to one miner working up the plateau – life continues pretty much as normal. There’s a little bit of nervousness about more layoffs and a fair amount of annoyance at the five day week. Coal trains (1500 tons) rumble by at two day. I had the chance to talk to another miner there who reckoned that all the good coking coal has already been mined out up there. Personally, I take that with a grain of salt – on the other hand, another person showed me the load of coal he had delivered and complained that it was ‘rubbish’.
It is noticeable that there are fewer men (and woman) about town in high viz gear, appears less 4x4s with “C” on the sides (C with large numbers on the side of the vehicle to identify the vehicle on the plateau). The town is awash with camper vans instead.
At the bottom of our road – there is a ‘car park’ and visitors from ‘outside’ often ask why people would park in the middle of nowhere. The cars are, of course, owned by miners who catch the bus up to the plateau. This car park only has two or three cars nowdays where it used to be half a dozen and more.
As an aside – I happened to be in Newcastle NSW a few months ago, sitting on the dock of the bay – as it were, I observed a panamax come into port. I’d never seen a ship so big so close up. The aussies still export massive amounts of coal –as we know. And yet, consulting the fonts of all knowledge – the local taxi drivers, it is ‘really bad’, ‘lots of layoffs’. Same thing there but on a bigger scale.
And noting that the BBC business news last night said that the Chinese manufacturing index was 49 – and taking all of the above into consideration – I will again put off my plans to buy BRL.

Maybe next dividend season but definitely not yet.

[barleeni]

This doesn't fill me with much enthusiasm:

http://www.sunsirs.com/uk/prodetail-417.html

Although I don't know if this is the best metric to make judgement from?

[BlackPeter]

This doesn't fill me with much enthusiasm:

http://www.sunsirs.com/uk/prodetail-417.html

Although I don't know if this is the best metric to make judgement from?

I guess it is one of the "free" sources of information about Asian coking coal prices - and in my view relevant for BRL product. This is if & when they start to export coking coal. Currently they just supply local customers and the price has been negotiated some time ago.

Looking at the numbers - remember that this chart is priced in RMB (or Chinese yuan). The RMB is quite hard coupled with the USD (which went up since December). If you translate the chart into NZD, than you find out that the price BRL would have received for their coal if they would have exported it would hardly have changed since December. No reason for joy, but none for despair either.

[tony64peter]

Steel production in India up 7% Jan and Feb. Now the third largest manufacturer behind China and Japan.


http://economictimes.indiatimes.com/...w/46651030.cms