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Bar stewards
A$285 B$255
They're expecting results this week on the other site and consensus there is that they'll be poor leading to the eventual collapse of the co. as the sky falls so not too surprising to see the dip last couple of days imo.
Good to see metcoal recover today all the same thought the metcoal A drop may have been a precursor for a dip in B. Glad it wasn't.
@rpg7 : I have been looking at trades as I saw no reason for the recent recovery, and just about every day there are thousands of £ sales and few buys. Even when it went up on general market sentiment. Looks like a sell-off to me.
HOVOL B - up another $5. Now at $255. And yet the share price keeps declining. So much for the share price correlation to met coal !
Probably traders thinking they’d turn a profit pre Xmas but now need their money out..
From the sp it looks like a sell off until you look at the trades -what a bullsh-te market this really is!
-3 A$280 B still $250
A-$7 283 B still 250
Still need buyers /investors not plank traders,
Yes this is brilliant news. Shows that the blockage (caused by NS trains, not port issues) has been resolved. Also good that train activity expected by AW has happened ie delivering on stated expectations (which has sometimes not been the case in the past). It has cleared 66k tons from the stockpile which releases storage capacity to enable further production increases towards the target 70k tpm. Shows NS are taking BEN seriously in scheduling so many trains in short space of time - it must be the most intense period of train activity since IPO. And it means we've sold 66k tons, got the money in and made around £2.5m profit from those deliveries alone.
A sign of things to come. Setting BEN up very well for 2024. GLA
Thanks Mark, 2 trains a week for the last three weeks is very good news imo.
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.