Bathurst Resources - BRL

[trader_jackson]

http://www.asx.com.au/asxpdf/2015092...fsk12qjrh5.pdf

http://www.stuff.co.nz/business/7243...ow-coal-prices

It does look like they have done pretty well given the circumstances... lets just hope it can stay afloat during these turbulent times... Will have to keep holding onto our hats...

Thoughts?

[blockhead]

Job pruning saw still at work, 1 middle management job gone from Timaru this week

[trader_jackson]

What does everyone think of the resolutions?

http://www.asx.com.au/asxpdf/2015102...mnpc436l50.pdf

In particular the performance rights (and how they are calculated)? Good? Bad?

I haven't had a detailed look but interested to see what people think.

[BlackPeter]

What does everyone think of the resolutions?

http://www.asx.com.au/asxpdf/2015102...mnpc436l50.pdf

In particular the performance rights (and how they are calculated)? Good? Bad?

I haven't had a detailed look but interested to see what people think.

difficult question - how do you expect anybody to know what everyone thinks ?

If you are interested in my views .... I spent probably not enough (and at the same time already too much) time with trying to understand the proposed resolutions.

From what I understand - they are trying to incentivise as well the board by throwing shares into the package. The overall amount of shares (given the current SP) does not look too frightening, however - given that their board fees are in the top range of other (and much larger) NZ companies (120k for the chair and 60k for each of the other directors), despite them being just a dwarf miner in hibernation mode with little shareholder value left, would I prefer to see them first reducing their quite outrageous cash fees before they add an additional share based bonus.

Feels like Hamish's spirit is still hovering over the current board - suck'em out as long there is still life ...

Discl: holding a small parcel - but not sure, how much longer ...; If still around as shareholder during the AGM I'm likely to vote against;

[trader_jackson]

Yes I see... I am almost tempted at 0.015 to buy more (my average price is well, well above this price), and surely it is worth a bit more than 0.015 a share (but then again a friend of mine thought it couldn't get any worse than 0.028)

Yes I am also concerned that there isn't alot of shareholder value left, but it is almost inequitable for me to sell now.

Watched an interesting video yesterday that essentially rattled on about how out of date (or non existant) the worlds infrastructure is (roads, railways etc), particularly in the US and how it ultimately needs replacing... I don't know if Bathurst has a direct link to something like this, but I would have thought when the time came to build these things, high quality coal would be one of several things required... such some macro thinking, and I suppose a better question is if Bathurst can last long enough to capitalise on this eventual demand

Next few quarterly cash flow statements will be more crucial than ever

On another note... I also noticed that the control number doesn't work when I go to vote online... (something like 'this meeting isn't available, please try again later') any clue as to why this is?

[BlackPeter]

Yes I see... I am almost tempted at 0.015 to buy more (my average price is well, well above this price), and surely it is worth a bit more than 0.015 a share (but then again a friend of mine thought it couldn't get any worse than 0.028)

Yes I am also concerned that there isn't alot of shareholder value left, but it is almost inequitable for me to sell now.

Watched an interesting video yesterday that essentially rattled on about how out of date (or non existant) the worlds infrastructure is (roads, railways etc), particularly in the US and how it ultimately needs replacing... I don't know if Bathurst has a direct link to something like this, but I would have thought when the time came to build these things, high quality coal would be one of several things required... such some macro thinking, and I suppose a better question is if Bathurst can last long enough to capitalise on this eventual demand

Next few quarterly cash flow statements will be more crucial than ever

On another note... I also noticed that the control number doesn't work when I go to vote online... (something like 'this meeting isn't available, please try again later') any clue as to why this is?

Agreed - there is a huge need for infrastructure replacement around the globe, what is however sort of missing is the money to pay for it. Nevertheless - demand for coking (and thermal) coal is so far increasing every year for the last century or so ... and while the growth rate is declining - the world uses every year more coal than the year before - and "peak-coal" is still far away on the horizon.

http://www.iea.org/newsroomandevents...r-by-2019.html

So - demand is not the problem (even if the world keeps delaying to build all the infrastructure they should need), supply (too much thereof) is. Problem is that the Rio Tinto's and BHP's of the world decided to do to the coal market what Saudi Arabia does to the world oil market - they are just continuing to flood the market with cheap coal. And if we think that they run at some stage out of cheap coal, we should think again ... last time I checked there is roughly 100 times as much coal than oil in this world - i.e. they probably could do that for the next half millennium or so - and this is ways beyond my investment horizon .

Still - BRL has probably the potential to stay in some way in the game supplying the domestic market. What the resource markets are doing is anybody's best guess (and more dependant on political whim than on demand / supply). What goes down might come up again ... and if this happens, than BRL has (if they are still alive) a top quality product to offer.

My frustration is not with the industry ... it is more that the recent board proposals smell again after a board looking more after their self interest, than after their share holders. If they would just swap some of their huge cash fees against a payment in shares (and even if they would give themselves some discount), I would be a quite happy share holder - but just taking a larger and larger piece of a shrinking pie is not on.

Looking at you voting problems ... I suspect you need to wait until you get a personal email (with a personalised link) or a letter (with a personalised control number) asking you to vote. Remember - the voting website always seems to recognise you ... and how would this be possible if everybody uses the same control code? However - it might work, if you have already an account with Link market services ... have a try, if you don't want to wait.

[trader_jackson]

http://www.asx.com.au/asxpdf/2015103...c13mwszv7p.pdf

I think this is quite a good cash flow report! No more net debt as well... Maybe Bathurst does have a chance afterall?

[biker]

http://www.asx.com.au/asxpdf/2015103...c13mwszv7p.pdf

I think this is quite a good cash flow report! No more net debt as well... Maybe Bathurst does have a chance afterall?

A better chance every quarter by the look of it. I like their approach to the current situation and the results they are getting. A high risk holding but the upside from 1.8cents is huge if you have the patience IMO.

[RTFQ]

Nice report!!!

[100101]

Yes very nice. I especially liked the bit about the Buller Escarpment
"The Escarpment will be targeting an initial output of 500,000 tonnes of coking coal per annum for international steel markets

In the coming months will see the mine developed to a stage where it can quickly move into steady state produc

tion to meet potential export demand.

Over the life of the block, total annual production is expected to increase to around 750,000 tonnes".

Would be very happy if Bathurst starts exporting 500,000 tonnes of coal a year - what would this be worth in NZ$?

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