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PRC - Pike River Coal

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Bouncing along are Pike River Coal , ignoring bearish sentiment in the coal sector of late, and now double the low point in January. Coking coal at a booming US$300 per tonne and joining the NZ50 have put this one in the limelight. Infrastructure go-aheads and completions are making for on time future production targets.
 
noirua said:
Bouncing along are Pike River Coal , ignoring bearish sentiment in the coal sector of late, and now double the low point in January. Coking coal at a booming US$300 per tonne and joining the NZ50 have put this one in the limelight. Infrastructure go-aheads and completions are making for on time future production targets.
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Hey Noirua have a look at NZO it holds about 30% of PRC...

PRC has also got contracts from Japanese steel mills and indian share holders (Gujarat NRE Coke Limited and Saurashtra Fuels Private Limited)
 
cannt be long till they strike the full coal face
should push the share up a bit
should hit it in 3 weeks approx by current progress.
 
ok only a hundred meters to go for the tunnel, chewed thru 20meters last week, so picking up pace again.
thats 5 weeks left at that pace, but i suspect they are accelerating. they r using the new road header.
 
shag said:
ok only a hundred meters to go for the tunnel, chewed thru 20meters last week, so picking up pace again.
thats 5 weeks left at that pace, but i suspect they are accelerating. they r using the new road header.
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Thanks for the update shag, one of the most interesting future producers, imho. Needs a bit more patience, but it will get there.
 
PRC

This is the second consecutive day that PRC sp is being hammered. Since I am unable to find any profound reasons (apart from the fact that market is down generally) I am asking anybody would know something I don't. Thanks.
 
Re: PRC

babka said:
This is the second consecutive day that PRC sp is being hammered. Since I am unable to find any profound reasons (apart from the fact that market is down generally) I am asking anybody would know something I don't. Thanks.
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i'd just treat it as a buying opp.
it takes little volume to depress this share here in aus
i've no news, like its awesome coal, was seemingly profitable at coal price of a third of the price
they are a wisker away from the full coal face, seem to have the infastructure in place to mine and sell the stuff
only 20k sold today so far, so wouldnt more trade if some poor news was looming?
its such good coal, i've burnt tons of the stuff from the west coast. my firegrates basically melted. little ash or sulphur.
 
Thanks Shag, I feel the same way like you. Volume is a problem on sydney ASX.
I will watch the price movement and will average down. I belief in the company and that not before too long will be trading well.
 
itS a large resource too, with good possibilities its much bigger than its current resource
also hopefully they will make the coal loadable from the west coast rather than the long trip to lyttleton(chch). very major cost savings in that, barge it or slurry pipe etc.
 
PRC sudden drop

I am totally perplexed why PRC dropped 19c yesterday. Couldn't believe my eyes. Were people panicking because of the statement that PRC was awarded for being good conservationist????
 
Re: PRC sudden drop

babka said:
I am totally perplexed why PRC dropped 19c yesterday. Couldn't believe my eyes. Were people panicking because of the statement that PRC was awarded for being good conservationist????
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Probably the fall in coal prices as steel prices fall sharply. Hopefully the US$ will continue to climb, thus offsetting this fall. Choice now is to ride out the storm or jump off the ship.
 
Re: PRC sudden drop

babka said:
I am totally perplexed why PRC dropped 19c yesterday. Couldn't believe my eyes. Were people panicking because of the statement that PRC was awarded for being good conservationist????
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Hi Babka, do you have forward numbers for PRC?

Then i can see how much it is worth :)

thx

MS
 
Hello Michael, I am sorry I dont have forward numbers for PRC - there is absolutely nothing on Commsec site and I am guided mainly by some minor research and PRC website. I would appreciate very much if you would be kind enough to help me here and maybe enlighten me re those numbers or direct me where to get them. Thanks.
 
I don't understand either why this stock has been caught up in the recent troubles, it should be considered one of the safe havens.

Consider the following:

1. McDouall Stuart target of $2.75 NZD with BUY recommendation.

2. ABN Amro 12 month target of $3.87 NZD with BUY recommendation.

3. UBS (september) 12 month target of $2.40 NZD.

4. Gujarat NRE Coke Ltd. contracted to purchase 40% of coal from PRC for the entire life of the mine at market prices.

5. Substantial holders: NZ Oil & Gas and the Indian companies Gujarat NRE Coke Ltd and Saurashtra Fuels Private Ltd.

6. Shipments prior to 31/03/09 set at $300 USD per tonne.

7. First coal production expected in the very near term.

8. Needs no further funding.


Go PRC Go!
 
Hi who dares wins, don't worry about the drop, it is really a great performance by Pike River in the face of the recent collapse of many mining stocks. I'm surprised PRC have not gone under $1 in the circumstances.
 
noirua said:
Hi who dares wins, don't worry about the drop, it is really a great performance by Pike River in the face of the recent collapse of many mining stocks. I'm surprised PRC have not gone under $1 in the circumstances.
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yeah up a little on a down day :)

PIKE RIVER COAL OVERVIEW
Pike River Coal Limited (Pike River) continues to make good progress in the development of its underground premium hard coking coal mine, located 50 kilometres north east of Greymouth on the South Island’s West Coast. Under Pike River’s mine plan 17.6 million tonnes of high quality, low ash coking coal will be produced over the mine life for use in the steel making industry, particularly in Asia and the sub-continent. Pike River’s hard coking coal will be used by coke and steel makers and will be an important component in the coke making blend due to its low ash, low phosphorous and high fluidity.
 

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michael_selway said:
yeah up a little on a down day :)

PIKE RIVER COAL OVERVIEW
Pike River Coal Limited (Pike River) continues to make good progress in the development of its underground premium hard coking coal mine, located 50 kilometres north east of Greymouth on the South Island’s West Coast. Under Pike River’s mine plan 17.6 million tonnes of high quality, low ash coking coal will be produced over the mine life for use in the steel making industry, particularly in Asia and the sub-continent. Pike River’s hard coking coal will be used by coke and steel makers and will be an important component in the coke making blend due to its low ash, low phosphorous and high fluidity.
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Thanks for that m_s, Even if the Hard coking coal price falls from US$300 per tonne down to US$200, as a few forecast. Profits per tonne will be enormous. Also, the Aussie$ is falling, so, the 33% drop in the coal price should be offset quite a bit, around 16% - 17% today.
 
noirua said:
Thanks for that m_s, Even if the Hard coking coal price falls from US$300 per tonne down to US$200, as a few forecast. Profits per tonne will be enormous. Also, the Aussie$ is falling, so, the 33% drop in the coal price should be offset quite a bit, around 16% - 17% today.
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Apologies there, should of course read NZ dollar, anyway, weakness in the currency still applies, perhaps more so.
 
tHEY CAN now stArt TO iNvestigAte THE secoND COal seaM below thiS OnE, so POSIBLE rEsOuRcE UPGRADES.
A wEEkfrOM THE coal face by their website.
 

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