Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
Last post had wrong link for the June 21 price, here is he correct one:
https://www.barchart.com/futures/quotes/LVM21/overview
RBCT coal price rising today, now up to $147
https://www.barchart.com/futures/quotes/LVZ21/overview
We made plenty of money in the interim results with FOB price of R5552 ($37) and RBCT at a maximum of $116, and on average much lower.
https://www.barchart.com/futures/quotes/LVZ21/overview
So that's a nice big slice of profit going forward @$147+ along with all the coal sold at the spike prices last month.
Nice steady upward trend in both SP and coal since Wednesday and board back to sensible levels of postings.
https://www.barchart.com/futures/quotes/LQZ21/overview
https://www.barchart.com/futures/quotes/LUX21/overview
Link to Chinese coal prices. Updates early, so current day already shown:
https://en.macromicro.me/charts/1316/china-thermal-coal-futures
Rotterdam Nov coal up to $140 today. API4 normally moves in same direction, so will be interesting to see todays figure when available.
China and India's coal consumption currently dawfs everyone else's and neither are planning cuts anytime soon, quite the opposite in fact. COP26 is almost pointless, unless these two do something drastic and I don't believe they will.
https://www.barchart.com/futures/quotes/LUV21/futures-prices
No shortage of customers today. 5 bulk carriers (most that I have seen) at the RBCT loading quay.
https://www.marinetraffic.com/en/ais/home/centerx:32.051/centery:-28.816/zoom:15
Another Anglo American asset sold off cheap & making a fortune for the new owners:
https://www.miningweekly.com/article/buy-a-coal-mine-get-a-bonus-glencore-makes-fortune-on-colombian-deal-2021-10-28
Buy a coal mine, get a bonus: Glencore makes fortune on Colombian deal
LONDON – For investors seeking to burnish sustainable portfolios, coal mines are an anathema.
That sits well with top global miner and trader Glencore , whose purchase of a major coal mine in Colombia will generate a bonus of hundreds of millions of dollars before the deal has even been completed.
The miner bought the 66% shares in the Cerrejon thermal coal mine it didn't yet control from rivals BHP Group and Anglo American in June this year for an aggregate $588-million.
The deal was welcomed by BHP's and Anglo's shareholders as a major divestment of coal assets to meet emissions targets and shift towards sustainable energy.
The agreement they signed had, however, an unusual clause: Glencore would take over cashflows from the mine from 2021.
At the time of the deal, the Swiss-based miner said it anticipated the cash generated by the mine might reduce the purchase price to $230-million.
But the red-hot market for thermal coal has made that assumption conservative after prices for the most polluting fossil fuel soared on the back of Chinese power shortages and a European gas squeeze, said insiders and analysts.
One insider said that Glencore will get a "fat cheque" from revenues when the deal closes by the end of June 2022.
Broker Liberum estimates Cerrejon will generate $1-billion in EBITDA (earnings before interest, taxes, depreciation and amortization) cash flow in the second half of 2021 alone.
"Exiting Cerrejon is part of our long-term strategic decision to focus on future facing commodities. There is no change to that view, irrespective of near-term thermal coal prices," a BHP spokesperson said.
Glencore, which already controlled a third of Cerrejon before the transaction, declined to comment.
"Our agreement to sell our minority shareholding in Cerrejón marks the final step in our responsible transition away from thermal coal operations as we continue to position our portfolio firmly towards supplying a wide range of future-enabling metals and minerals to our customers," Anglo American said in an emailed statement.
BHP and Anglo sold or spun off most of their coal assets, while Glencore has taken a divergent path and set a goal of managing the depletion of its coal mines by the mid-2040s, rather than selling them.
"Given the speed at which the deal is paying for itself, Glencore's policy to run down their coal portfolio is proving far better than a spin-off or a sale," said analyst Ben Davis at Liberum.
Davis said he based his calculations on European coal prices for delivery into Rotterdam minus the freight from Colombia. Coal prices soared to $280 per tonne in the second half of 2021 from as low as $57 last year. Davis exp
LL on Marine Traffic you can pay for enhanced access and I do have a (free) login, as I have another reason for using it, though I have never paid them money and I can get the same info if I use a different browser and don't login.
FYI; Bulk Sao Paulo just leaving harbour (had a pilot boat along side a short while ago) and expect another bulk to come in to take its place soon.
From MT "It’s carrying capacity is 207992 t DWT" that's tens of millions of $$$ on one ship. (For clarity, TGA isn't the only user of RBCT)
On a more constructive note:
Thanks for the link LL, I find Marine Traffic to be better and you can easily get free vessel info and where it has come from;
https://www.marinetraffic.com/en/ais/home/centerx:32.051/centery:-28.816/zoom:14
From this you can see one of the vessels in port atm is a tanker at the BIDVEST TANK TERMINAL.
However, I do keep an eye on the coal dock (since information about the fires at the bulk terminal fire being falsely used to sow doubt) and confirm there has been a steady stream of vessels coming and going with DWTs average over 170,000 tons with three almost always loading and the odd bunkering tanker alongside.
Turnover is about one a day, that's a lot of tons of coal still leaving RBCT
GLA
And what China says its internal coal price is, is irrelevant, it's what people have to pay to get a cargo of coal from RBCT or Indonesia.
Article below pretty much says China price is a fantasy and to use the Indonesian price (where China buy a lot of coal from)
Note, it is only 4200k coal, so a poorer and cheaper grade than RBCT, and its price is still well above the level it was at the beginning of October, when TGA was nearly 500p
https://www.reuters.com/world/china/china-traders-hunt-coal-price-directions-beijing-reins-data-providers-2021-10-27/
https://www.barchart.com/futures/quotes/V!X21/overview
Gas and oil back to recent highs, Coal Prices 25/10/21 both up today:
API 4 Fob Richards Bay Argus Nov '21 (IFFX21) $184.00 +2.50 (+1.38%)
ICE Rotterdam Coal Nov '21 (LUX21) $200.00 +23.20 (+13.12%)
My sensors always say ntc; never trust China ;-) Winter's Coming
It's amazing how quiet it has gone on here now that the share prices is stable, the dozens of posts from newbies or others ramping and damping, with no real information or false news, now vanished
So as to keep something ticking over with actual news:
Here is the link to today's Rotterdam November Coal price, which is up 6% at time of writing. Hopefully API4 is following and will know later when the price is accessible.
https://www.barchart.com/futures/quotes/LUX21/overview
Also Monday's SA mining update:
https://www.miningweekly.com/article/weekly-sa-coal-report-2021-10-25
Hoping it stays quiet on here, with a nice steady increase in SP. GLA
Something a bit more up to date:
https://www.reuters.com/business/energy/china-wants-cool-coal-prices-similar-moves-metals-crude-failed-russell-2021-10-21/
http://biomassmagazine.com/articles/18405/uk-ccs-cluster-anchored-by-drax-beccs-project-moves-forward
https://www.drax.com/press_release/drax-group-ceo-will-gardiner-responds-to-the-governments-net-zero-strategy/
https://www.drax.com/press_release/drax-group-ceo-will-gardiner-responds-to-track-1-cluster-announcement/
Another step in the right direct to successfully achieving Drax's BECCS ambitions.
https://www.proactiveinvestors.co.uk/companies/news/963796/carbon-capture-projects-led-by-bp-shell-and-drax-get-green-light-for-government-funding-963796.html
"Operations at the Richards Bay Coal Terminal - Africa's largest coal export facility - are unaffected, a spokesperson said. The coal terminal is located across the bay from Richards Bay port."
https://www.nasdaq.com/articles/fire-hits-south-africas-richards-bay-port-transnet-says-2021-10-14
SP, if you actually read through my posts, you would understand they are to avoid FUD, as many will not understand where the coal terminal is and just assume the fires will affect Thungela's export operations.
Unlike you, I am posting for a reason, with very relevant and verifiable information.
In videos the cameraman appears to be standing at:
-28.780735478546074, 32.035897993149604
Power lines running from pylons at:
-28.78141168490816, 32.02947010684166
can be seen running across the top of the shot in 1.1 and 1.2
Building with distinctive roof at 22 seconds in on video 1.1 looks like it is the building at:
-28.782341726264146, 32.034352325535956
Visible in this street view:
https://goo.gl/maps/EtzzffuNfDmHSxVa9
All of which are no where near the southside thermal coal terminal or its rail lines