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Https://www.miningmx.com/top-story/55179-sas-treasury-throws-transnet-debt-lifeline-with-r47bn-guarantee/
The last part of this is a bit mumbo-jumbo, but is good news nonetheless.
It is a curiosity how little attention on here is paid to volumes. People obsess about the price, but volume is equally important in the profit equation.
Newcastle coal futures increased to $128, (Today $132.15 up 2.44%), per tonne as demand from China is set to rise as temperatures are falling. China's thermal coal imports for November are anticipated to reach approximately 29.21 million metric tons, surpassing October's 24.62 million and trailing only May's 30.21 million, as per data collected by commodity analysts at Kpler. Out of the total, Australia is expected to deliver to China 7.22 million metric tons, a substantial increase from October's 4.23 million, marking the highest monthly total since Beijing lifted its informal ban on imports from Australia earlier this year.
I hope this will stop the SP from slipping and we'll now move more North. Hopefully, the results at the end of this month will be good.
Bryan. What news?
Should see a bounce after the news released tonight
We should get a trading update in early December so we will know a bit more then. Currently just tracking coal price. Richards bay is near or just under the five year average for the contract futures so not really surprising to see the share price where it is.
This is painful
Sp keeps slowly ticking down ,it's getting more difficult to hold
Yes correct how ever sp has always moved on coal price trend, which is clearly not the case today
Not really. Share price should be driven by annual profit, not daily fluctuations.
Coal up and yet the sp is drop very odd
Humour me - I was just trying to introduce a little light in these dark days.
Edward - you talk about meaningless posts? You seem to be living in La la land where SP’s don’t go up and down, good luck with that on a share like TGA which has some quite dramatic swings on price and sentiment
Broomtree's charts suggest 800p.
Million dollar question
I am looking to get back in....How low can this go?....What would represent a good entry point?
He has history. Don't rise to it, Brad.
Never good when marshall wace get shorty.... What do they know? Hmmm
CaneToad
Posts: 3,356
Price: 769.60
No Opinion
Shorts24 Oct 2023 11:07
Anybody able to add some color on Marshall Wace's recent short position?
Why are we making a loss any thing under 90 would be a loss
Well they will be burning notes now so price won’t stay up here
I think it’s far more likely that any weakness here will come from coal prices continuing to trend lower rather than lawsuits.
A class action lawsuit has also been filed which could end up costing TGA a huge amount. Richard Spoor who is leading won a major case against gold miners so it’s something to be very aware of. Id be surprised if this doesn’t see some real weakness soon
Looking at the short-term charts, MACD and an SMA that I use have both crossed over, so SP may continue to decline. With that and the coal price, I decided to sell for a very small loss (thanks to the massive divis).
Will keep a watchful eye on this though and may get back in if the SP drops significantly.
That’s broadly correct.
In the last update they told you this about Ensham:
“FOB cost of between USD110 and USD120 per tonne”
The current coal price is below $120 in Australia and once you factor in capex they are losing money
In South Africa, that’s right about the discounts and not widely discussed. The margins will be very slim now. Expect the market to really negatively react when the next update is released on financials