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PRC - Pike River Coal

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Came back with an apology, after all I said, I've sold this stock as I think the future for coking coal looks a good deal blacker than last week. Good luck, hope it explodes upwards.
 
noirua said:
Came back with an apology, after all I said, I've sold this stock as I think the future for coking coal looks a good deal blacker than last week. Good luck, hope it explodes upwards.
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Hm yeah coking coal may be hit more than thermal?





thx
MS
 
Well it has been a while and one would think that they have managed to reach the coal by now............

I wonder what the next few days bring us
 
Check out the companys website NomadAUS for more information. The tunnel is now within 5m of the Brunner coal seam and coal is expected anyday now.
 
The comapny has announced that they have struck coal at Pike River after 2 years of tunneling. Also aired on TV One in new Zealand. The announcemant mentions that the prospectus was based on $98 USD per tonne giving the company a large margin with sales until March 2009 set at $300 USD.
 
looks pretty good... i notice it hasnt got smashed anywhere near as much as the other coal stocks...

what are realistic cash costs per tonne?
 
michael
i like yr graph of diretors buying/selling vrs sp
its pretty much on the ball so far.
its supprising that this stock trades more in nz than here in aus.
now labour r history that must help productivity also, less regulations, new employments contracts act i hope, and what about holding off on the carbon tax for a while too as inline with australia?
 
i ditched this dog, most anyway. needed the dosh plus so many other stocks with a uptrend, however temporary.
sadly, being in shares since the 80's, kiwi stocks just don't move much, most anyway. it may change when we become an oil economy(we have eight sedimentary baisins which have not or barely been explored, with the ones where people have bothered to put a drill into it, have found gas and damn good light crude). i can't help mentioning the great southern baisin, where hunt petroleum found oil/gas, in 4 of eight wells it popped below the sea before the rig got smashed to pieces. supposedly, only a rumour, they found a elephant gusher, but then-oil low, the roaring 40's, muldoon pushing for fair royalties, it was plugged. ExxonMobil and omv are currently trying to work the area.
the gov geologists are very bullish about all these fields, esp the great southen baisin where the last major field could be found. a bit off topic but if any of the nz oil stocks start moving alarmingly then i'd give them a look.
 
I hold a few NZ oil and gas (large holders in PRC)
What are some of the other New Zealand oil and gas stocks ?
 
It will be several weeks before we find out whether this renounceable rights issue at 70 cents comes off or not. $41 million dollars of much needed cash with the stock price at 66 cents.
Coking coal is the name of the game for PRC and it is a game of future coal sales and rights issue worries.
 
70 cents nz payable for each new share and option.NZ sales at 82 cents so the new issue should have no problem.
 
I am definitely taking up my entitlement. Have big hopes and faith for PRC. I read that 40% of coal production has been contracted for the life of its mine.
Just not quite sure about the options (they are free, yes) but at $1.25 - is it a good deal or not? Am right to think that the sp has to reach $1.25 before any option can be exercised? Thanks for the answer.
 
its had bad luck prc, or poor planning.....
it looks good longterm with top coal and those underlying seams
being a nzx stock and company makes it a real dog tho.
 
It is now 4 months since the last post for PRC and still going backwards. Still down 50% on my investment from last year. A real dog of a share. The only thing I will ever buy again that is NZ is their white wines - some great wines at good prices.
 
Yes Zird, the same here. Very disappointing stock, lots of bad luck, lots of teething problems. Have read somewhere that if they are not going to have any valid announcement re production by Jan/Feb next year, the sp might go down to around 60c. Hope not!!!!!!!!!!!!!
 
Holy Smoke Babka What a heart stopping day fpr PRC holders - the share price went up 0.005 cents today.

We are on a roll bro! Who cares if they win the Bledisloe year in and year out. I am taking the rest of the week off.:
 
Shouldn't that be 0.5c or $0.005, not five-thousands of a cent? A fairly big difference, I would have thought.
 
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