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- 8 June 2008
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I guess I will have to stop fighting the WEF and invest my coal focused long term OS.
You know ,companies like Adani?
I guess I will have to stop fighting the WEF and invest my coal focused long term OS.Good morning
Re: NHC
New Corp Article published today 12/02/23
It never ends …
COAL MINE PROJECT HITS GREEN HURDLE
Michael Madigan
THE operators of a Queensland coal mine fear huge job losses are on the horizon as a 16-year approval process which appeared to be finalised last year hits another stumbling block.
New Hope, owner of the New Acland Coal Mine, has been hiring workers – many on six-figure salaries – at the site near Toowoomba since late last year and anticipates 100 will be at work by next month. But management fears the resurgence of mine activity which began after the state government approved the mine’s crucial water licence last October will soon grind to a halt after protesters, the Oakey Coal Action Alliance and Lock The Gate, requested that the government conduct an internal review of the granting of the water licence.
“We strongly believe, based on the expert evidence we have submitted, that the Queensland Water Department has made a shocking error of judgement by granting an Associated Water Licence to New Acland,” Coal Alliance secretary Paul King said.
New Hope management now fears the matter could return to the Land Court, where the issue could stagnate as green “lawfare’’ over the mine resumes.
“The Queensland government has scrutinised, critically assessed and approved New Acland (State 3),” a New Hope Group spokesman said.
“Green lawfare activists including Oakey Coal Action Alliance and Lock the Gate supported by the taxpayer-funded Environmental Defenders Office request-ed the internal review and will continue to oppose New Acland Stage 3 indefinitely and attempt to take the project back to the Land Court for the fourth time.”
Queensland Resources Council boss Ian Macfarlane said the approvals process had to have some end point.
“After taking more than a decade to finally approve the New Acland Stage 3 mine expansion, the Queensland government should be doing whatever it can to ensure the project now proceeds as quickly and smoothly as possible,” he said.
The QRC has already backed giving the mine “Prescribed Project” status, which would smooth the project’s path through the bureaucracy, but believes it is too far down the road for that classification to now be applicable.
“People have been responding enthusiastically to the permanent jobs being advertised, which is great news for the Oakey community and Darling Downs region,” Mr Macfarlane said.
“Any ongoing uncertainty around this project needs to be put to bed by the government so local people can feel confident about their future after so many years of uncertainty.”
The government says the internal review of the water licence matter should be completed by late March.
Not holding
Have regularly traded past 12 months
Have a very nice Sunday.
Kind regards
rcw1
Yes buying coal shares is a very big gamble in Australia, even the banks are reluctant to go near them.I guess I will have to stop fighting the WEF and invest my coal focused long term OS.
You know ,companies like Adani?
One wonders if the lifting of China's bans of Australian coal, is more about trying to lock in contracts before Australian coal mining is shut down permanently, more than warming politics.I guess I will have to stop fighting the WEF and invest my coal focused long term OS.
You know ,companies like Adani?
NHC has already shifted it's headquarters south of the border ( to NSW )Good evening,
New Hope posted underlying EBITDA of $448.1m in its April quarter – up 14.8 per cent on the previous quarter and 20.6 per cent on the same quarter last year. It comes as looks to restart coal sales into China.
3.5% SP gain today (23/05/23)
Intell:
Macquarie rated the stock a neutral following the update with a 12-month target price of $5.40. Analysts noted that falling thermal coal prices and inflationary pressures posed a headwind for the miner in the year ahead and that recent legal action was a risk to the timing and ramp-up of the restart at New Acland stage 3.
Not holding
Kind regards
rcw1
Good evening,
New Hope posted underlying EBITDA of $448.1m in its April quarter – up 14.8 per cent on the previous quarter and 20.6 per cent on the same quarter last year. It comes as looks to restart coal sales into China.
3.5% SP gain today (23/05/23)
Intell:
Macquarie rated the stock a neutral following the update with a 12-month target price of $5.40. Analysts noted that falling thermal coal prices and inflationary pressures posed a headwind for the miner in the year ahead and that recent legal action was a risk to the timing and ramp-up of the restart at New Acland stage 3.
Not holding
Kind regards
rcw1
Hopefully they continue to maximise shareholder returns and don’t go looking for inorganic growth.
I was wondering if it was spooked by S32's announcement today?NHC still has a bit more to fall IMO - $4-00 looks abt right 2 me..
NHC did a similar price drop last divie as well.I was wondering if it was spooked by S32's announcement today?
I don't hold NHC or S32
View attachment 164463
CommSec
@CommSec
·
7h
Diversified miner South32 $S32 posted an 18% drop in first-quarter metallurgical coal output on Monday, as production was affected by operational disruptions.
Well, what do we know? It's up 13 cents today.NHC did a similar price drop last divie as well.
17/4/23 they went ex-divie for a 40c dividend but dropped 55c on the day.
The next qtly will be interesting though, the coal price looks to have stabilized, so that along with the latest cost figures should give a clearer picture.
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