Member Info for BlueGlow

Yeah, thats true, new CEO etc.

I will have a look, might take a few and join you :)

Absolutely, yeah.

Tro, BCE, ADV in disguise, still gives me the creeps lol,

ADV with a 98% Cos, money in the bank! Then struggled to fill a jerry can.

nom, "The PM has had responsibility for the UK economy now for 1,323 days & he’s delivered"...

1. Largest national peace-time debt ever.

2. Largest tax burden since the Second World War.

3. Highest core inflation since 1991.

4. Fastest interest rate rises since 1989.

5. Biggest fall in living standards in our history.

They slayed their own election winner when they got us out of the EU.

Now all they have to rally the troops with are the twin threats of unisex toilets and the removal of old slaver statues.

Does the prospect of war between the U.S and China have much impact on steel demand?

At the moment it doesnt appear so, seems to just be pegged to the general slow down.

Property/ real estate of all kinds seems to be struggling everywhere so that, and the associated infrastructure isnt going to push up demand right now.

Just thinking out loud but its hard to find a good reason for met coal to increase much until general economic conditions improve.

I think i recall some chatter about Bens Creek potentially selling thermal coal, but they cant as its part of a licence restriction, or something along those lines.

This kind of share price was unthinkable a year or so ago. Bens Creek was the reference "this is how you do an IPO"

I rate Adam, but met coal at under $200 is a problem, and this could of course drop further with macro events. Ive not followed them much recently but i recall not knowing (and not being the only one) what their break even was for the whole time i was trading in and out, so this ($205) is news to me.

The high wall miner issue is a nuisance but temporary. Theres Bidens big infrastructure push and China possibly picking up (todays earlier scepticism noted), plus the prospect of further conflict which could increase steal demand i guess, but i wouldnt punt much on a met coal recovery just yet, and thats effectively what this is.

Obviously a good recovery play when things pick up

By contrast the margins on CGO are miles and miles better, but obviously they are no where near as well-established.

From the Bens Creek vid.

They presently break even at $205.00 per metric ton.

Latest price.

https://www.argusmedia.com/metals-platform/price/assessment/metallurgical-coal-high-vol-b-fob-hampton-roads-prices-PA00128862100

Has been sub 200 for a while, and the share price almost back at IPO.

Big news for PRD, bb very busy already.

IQAI and DEC news well worth checking out too.

European gas prices rise as Russian mutiny fuels supply fears

UK and European wholesale gas prices have jumped this morning.

Bloomberg reports that the short-lived rebellion in Russia last weekend has “added to supply fears in an already volatile market”.

The European month-ahead benchmark is up over 6% at €35.15 per megawatt-hour, and was up 13% at one stage this morning.

UK gas price also gained around 10%, with the month-ahead price rising to 87.5p per therm.

Traders are judging that Russian geopolitical risk now is significantly higher than before the weekend, following mercenary leader Yevgeny Prigozhin’s brief mutiny.

George Lagarias, chief economist at accountancy group Mazars, says:

“Whether we like it or not, Russia is very important for the global supply chain, due to its status as a major energy supplier and commodities exporter. And the question is not how we will think about things long-term, but how commodity traders and corporates will react over the shorter term. Will they try to hoard commodities and energy, fearing fresh instability out of Russia?

“A running theme since the beginning of the year for us was increased uncertainty and unpredictability, in a world that shows no signs of returning to its pre-pandemic balance. While we don’t know what happened, we should not be surprised if we see upheaval in the commodities market, as investors fear further destabilisation.

“Further instability could, in theory, add to inflationary pressures, at a time when we at least thought that supply chain issues were behind us.

“Sticky inflation is probably the key risk for 2023. The biggest economic and financial concern from further Russian instability is that supply chain breakdowns could lead to a fresh inflationary cycle, at a time when we are not nearly done fighting the previous one.”

58.2% say yes please.

https://www.theguardian.com/politics/2023/jun/23/britons-who-want-to-rejoin-eu-at-highest-since-2016-survey-finds

Lol Tro.

Missed out on CGO yesterday, have been waiting for a dip into the mid 3s since it started flirting with 4 pence, but didnt notice the drop...

Vegetable is about right :)

Lols :)

Am around dont worry :)

PRD, Have sold a few to bank some profit @ 11.70 this a.m

Everything looking good there, but caution dictates you cover your behind so...

Decent trading update from MMAG, i hold a few.

H2 is also typically the better side of the year for them.

The drop on PXC this morning is completely down to a UT way above the ask on friday at 29p!

Looks like a few saw the false % drop when it opened up, and sold compounding the issue.

PRD going along nicely this morning :)

Tempting to trade at resistance, around 9.80/10pish

But just going to sit on them and see what the drill unearths.

Same story on Bloomberg.

https://www.bloomberg.com/news/articles/2023-06-15/dutch-government-set-to-close-europe-s-biggest-gas-field-in-groningen-this-year?utm_source=google&utm_medium=bd&cmpId=google

The Dutch government is set to permanently shut down the Groningen gas field in October, a move that may limit Europe’s supply buffer as it heads into the next winter.

https://www.luxtimes.lu/europeanunion/netherlands-set-to-close-europe-s-biggest-gas-field-in-2023/1671528.html

Interest rates now being penciled in for 5.75%

AJ Bell - "The market is now firmly pricing in an interest rate rise at the MPC’s June meeting, and then four further hikes, taking us to 5.75%. A few hawkish comments from the Bank of England, or some more ugly inflation data, could easily tip those expectations up to 6%."

Vicky Spratt - How this mortgage rates crisis differs to the 80s:

Historically high house prices. Wages are up 94% since 2000 but house prices are up 224%.

Today, average loan is 4-5 x buyer's income. In the 80s it was 2x.

Britain has the highest headline inflation rate in Europe.

Thanks Kennksy, thats great.