The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
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Good to see. Didn't hva rise a couple of days before hvb last time? If so a repeat would be welcome imo.
Hi vol A up $3 to $293 B still $250
Macro environment for met coal keeps improving ...
Rise in Chinese steel output drives sharp rally in iron ore
https://www.ft.com/content/b47c78f6-f618-4af6-9a51-ec4869ddc67a
Looks like the margins on Russian coal will be coming down again thanks to transportation costs.
Should keep some pressure on coal prices I'd of thought?
RZD OFFERS TO SHARPLY INCREASE TARIFFS FOR COAL MINERS AGAIN.
Russian Railways (RZD) suggests to significantly revise the principles of tariffication of coal transportation.
However, amending the coal tariff class from the first to the second will lead to a sharp rise in the cost of coal transportation, a 20-30% drop in the margins of coal companies and the closure of the main export routes. Meanwhile, the revenues of RZD will soar 2.3-fold.
This measure also looks contradictory amid constant tariff hikes. In 2024, the railway operator plans to adjust tariffs by 10.75%. In 2022, the inflation adjustment amounted to 18.6% to the level of 2021. In addition, there were targeted tariff increases, as well as the abolition of incentives for coal exports. In 2023, the tariff was increased by 9% and the cancellation of lowering coefficients for coal export transportation was extended.
Despite this, RZD proposes to classify coal as cargo of the second tariff class, and to transfer the authority to determine the need for state support of the coal industry to regional administrations. Currently, the railroad has three tariff classes:
· first, with a discount (coefficient at 0.55-0.75);
· second (coefficient at 1);
· third, with a surcharge (coefficient at 1.54-1.74).
In 2022, RZD has already proposed to move coal to the second tariff class, changing the coefficient for cargo class from 0.55-0.75 to 1.346. However, this measure would have made supplies of steam coal from Kuzbass in the eastern and western directions unprofitable.
https://thecoalhub.com/rzd-offers-to-sharply-increase-rail-tariffs-for-coal-miners-again.html
Adam said 2 more trains coming last / this week to add to the 2 already been through the site at the start of Dec. Hopefully at least another 1 later in the month. That'll be 55k tons shipped from the stockpile this month, which should provide around $2m profit.
That'll be closer to $2.5m once we're getting 6 or 7 trains per month in the new year.
As he said in the interview, BEN is now in the best operational position its been in since IPO.
Cheers DD it’s a good video…
This is good too:
https://www.dropbox.com/scl/fi/xd7ur6eja9yzpf8p7afem/Bens-creek-promtional-video.mp4?rlkey=kp6ddf5w106boz7tr1w4irh24&dl=0
Good to see thanks Erik, 5 or 6 trains expected this month too so BEN's making pretty much full use of these higher prices.
Up again…
A$290 B$250
Tbf 40,000 shares is hardly massive… I’m still wondering how the guy who sold 221,000 at 08.04 05/12 at 9p is feeling atm.. gutted or relieved?
Certainly relieved if he had a short CFD..
That I did..a massive 40k share sale was the days biggest trade out of 34 trades hardly full of 10%ers
If you look at todays trades , the transactions coloured red are indicated sells ,the blue are indicated buys .The buy/sell heading also gives you a clue. Hope you kept up with that.
Hardly rpg, there are no buyers atm.
Adam will need to prove himself this time round, no more bull and missed deadlines.
Still need to get past the usual ten percenter boneheads
Penstock, thank you for poting your BC model.
A 16% bid offer is not helping the trading ! Does that say anything ?
A $289 B $248
Cheers Penstock.
ATB and GLA
Nice to hear from you on here PENSTOCK, I'm not on your telegram site, do hope you will post on here again
Thought you'd stopped posting on here 😂
Jog on Rob1967, just because you were booted from my Tgm group that collected the questions for StockBox. You missed all the operational and financial updates I had researched and posted in the Tgm group prior to interview. I had posted all the 'cig packet' numbers last month for all to see and Adam corroborated them all in interview. Only discrepency in my 'scribbles' is that I put transport as $40/t but Adam said $45 in interview.
Anyway, here are those scribbles where you can change number of trains or price of coal in the yellow boxes to see how they affect sp value:
http://www.crews-inn.co.uk/Penscreek2024.xlsx
Not a £1, but then coal isn't $450/T.
As long as you managed to average down then no point squabbling. Just need NS to send the trains and coal prices to stay up. Well done Bens Creek on being at point of full production for the last few months, hampered only by the port issue delay on trains that I announced on Tgm a few months ago. GLA.
Great! A new recent high, now BEN is netting $43 per tonne.
HVA $289 HVB $248
Margin getting larger, good to see.
HVA seems to have snuck up again, sure it was $281 last time I looked on their site. Now £285.