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Try this link, coal prices almost back at March levels:
https://www.barchart.com/futures/quotes/IFFF21/overview
We’ve had a decent move in coal prices:
https://www.barchart.com/futures/quotes/LVF21/overvi
Still need news....
Hey 13Seedz, I spoke with mcm about why company would be selling as this was holding London line back against JSE. And M&G had supported us before. As far as they were concerned they had a small amount to sell to get under this 15% threshold. I did look at home tonight on M&G website but not find anything, but tonnes of legal docs to go through.
i've had the chance to look at some numbers. M&G bust the 15% threshold on 16-October but they chose not to notify holdings until 4th Nov. Why report it now and not on original date? Hoping that means they're done selling. Although the 2x50k done at 8 potentially makes me think otherwise.
if anyone cares...
Date Sold Holding as %
05-Nov 97810 21741399 14.08%
04-Nov 131975 21839209 14.14%
04-Nov 125000 21971184 14.23%
03-Nov 475000 22096184 14.31%
03-Nov 301816 22571184 14.62%
02-Nov 60000 22873000 14.81%
02-Nov 50000 22933000 14.85%
30-Oct 67000 22983000 14.88%
29-Oct 33996 23050000 14.93%
27-Oct 25000 23083996 14.95%
19-Oct 14768 23108996 14.97%
16-Oct 55000 23123764 14.97%
29-Sep 7000 23178764 15.01%
28-Sep 64549 23185764 15.01%
14-Sep 5000 23250313 15.06%
10-Sep 15804 23255313 15.06%
09-Sep 75230 23271117 15.07%
start 23346347 15.12%
They've also been the main seller in London, about 56% of volume last week
Tokols, I think our project is very different to Resgen. IDC just agreed debt funding so unlikely there. I was hoping a deal with PIC would have been agreed by now but there are others in the frame so fairly relaxed if a deal isn’t reached. We have the AGM in 3-weeks. Hoping for something positive by then.
I’m hearing Power China want coal from either Vele or Makhado but need to EIA for MMSEZ to be approved. This will fly at some point.
And another one
https://www.zoutnet.co.za/articles/news/53281/2020-10-25/community-divided-over-sez
https://mg.co.za/opinion/2020-10-22-muddying-the-waters-in-the-musina-makhado-economic-zone/
sneak it through. nice touch.
I was speaking with a US investment bank yesterday. They are generally quite bullish on coal price with recent rally being driven by fundamentals as opposed to positioning. Fund market is still short so this rally might have further to run.
These were the reasons given, more for the rally in coal:
Strength in gas has pushed from coal to switch point;
Stocks being drawn down from decent burns are not being replenished as a result of supply shortfall , i.e. Columbian strike;
Demand out of China and India;
Buyers turning to Russia as only major producer remaining at present;
Hedge fund / CTA community buying / covering shorts;
When I last spoke with Brenda Berlin a few weeks ago she was positive, pursuing multiple funding options at the moment to close that last gap (i.e. the $9m). All of them are looking very positive with a firm expectation that we will close something shortly.
Then again, we’ve been here some time. Maybe it all comes together. We live in hope. Good luck all.