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Well JSE had it’s highest weekly close since 21-Feb 2020 at 390 ZAr.
If we can break this 400 levels then feels like ready for a next leg up. Definitely feels like it’s coming.
Coal up again today given development in Europe regarding NordStream pipeline.
South African holiday today, and surprisingly nothing going through in London.
Given the situation in Europe with Russian gas etc, nice to see the underlying power markets higher again. API2 up almost 5%. Expect to see similar tomorrow when API4 re-opens.
more optimistic than ever on this stock
expected this to be released at 8am this morning. Looks like waiting on tenderhooks for the rest of the day!
& welcome back Jantand. We've missed your input here, Vele could be interesting if get that going again. We need to take advantage of these coal prices
maybe, just maybe......
- coal prices up again, Russia reduces European gas supply and market rejects Russian coal;
- company had some interest from buyers out of Europe who will pay top buck compared to the domestic SA market. I asked about this at EGM a couple of weeks ago and will be some next in quarters update due this week, and something they said was one of their objectives;
- Japan coal deal: Nippon Steel will buy coal at $375/tonne through March 2023, one of the most expensive coal deals ever.
- new Chairman and CEO are big-hitters;
- resolution 2 didn’t get approved so less liquidation and stops Senosi owning over 30%;
- MG have confirmed they are out as per of their zero coal policy. No supply overhang;
- United Nations Development Plan South Africa has endorsed the MMSEZ;
- environmental protests thrown out, green light given for MMSEZ to go ahead;
- financing expected to be completed this quarter. Heard it before but new management might pull a few strings.
Assume someone in SA knows something and buying ahead of update. Massive premium of JSE over London, JSE last 339, equivalent to 16.65p, London 9.75p.
well have the quarterly update this week and resolution not going through a few weeks ago was positive.
think there might be something positive on selling coal to Europe maybe as they had a few enquiries? or financing is due (again) to be completed this quarter
it's a leaky old ship and if moving up there's generally something to come out.
Interesting to know if they're been successful selling coal to overseas markets. I know from conversations to the company that they had received some enquiries from Europe.
There is this general meeting on Friday regarding Senosi Funding, which I've signed up to attend. Not sure if there will be any opportunity to ask questions about progress, or if it's just a question of them reading out the results of the vote
Apart from that, we get the quarterly update at the end of this month