Bathurst Resources - BRL

[trader_jackson]

Great report! Cash flow positive by over 2 million dollars? I don't think I need to say to much more, although it was interesting they didn't break out the numbers side of things (are they meant to? or did they and I missed something?) Remember major contract is finishing this year... I've read (only vaguely) on hotcooper that people are hoping for another contract to be signed up (for purchases of thermal coal while the premium/met coal is still uneconomical)... next few quarters will be crucial for the company to stay cash flow positive, did anyone see if they mentioned much about outlook?

If they can survive this year and the next, things could be looking very good...!

(thoughts on the above welcome)

[Sideshow Bob]

http://www.stuff.co.nz/business/7728...urns-to-profit

[trader_jackson]

Yes, I have already read the report and commented on hotcooper... the most surprising thing (aside from the profit and NTA backing...) is how the share price basically barely moved...!!

[macduffy]

Yes, I have already read the report and commented on hotcooper... the most surprising thing (aside from the profit and NTA backing...) is how the share price basically barely moved...!!

I wouldn't expect any enthusiasm for Bathurst until the market for coking coal shows signs of life.

[benjitara]

I wouldn't expect any enthusiasm for Bathurst until the market for coking coal shows signs of life.

agreed. The numbers on thermal coal don't support any rise in share price and even with a confirmation of coking coal operations I have only a modest increase in share price in mind. another capital raising or rights issue needed to if they are to set the escarpment operation alight. I would think which further dilutes the stock

[Newman]

Iron ore price jumped 19% yesterday. Would met coal follow? Steel making needs both raw materials. Separately, Edendale dairy plant in south island completed expansion last month. It would need more thermal coal, which would keep Bathurst alive.

[biker]

If coking coal prices have bottomed out would this not be a good time for steel manufacturers to secure off-take agreements? If structured well, with a rising coal price in mind, they could provide necessary development funding as well as put a rocket under the share price.

Disc. Have a substantial holding so I could be biased.

[trader_jackson]

I think things may have bottomed out... I note that Bathurst has been steadily rising (albeit off a very low bottom!)

[RTFQ]

http://www.stuff.co.nz/business/indu...urst-mine.html

[trader_jackson]

Another cash flow positive quarter... this small coal company seems to be achieving the impossible...!