More good news today for thermal coal. Much smaller build in natural gas inventories than expected by analysts. Price of natural gas price has moved up significantly since inventories were reported an 10:30 am.
Do agree that shutting mines is one answer. Also think that recovery in a long time in the future.
WLT said that they are getting $120 per tone while production in Canada is $132 vs $93 in the US. Believe the met coal market is below $120 now. Again, I like the shutting of mines but think that things will get much worse before they start to get better. Believe that production cost for met coal in Australia is about $70.
NRP still holding at the $16 level. Continued low volume. Today, The US Appeal's Court upheld hazardous air pollution
rule set by the EPA. Bad news for coal companies.
Analyst expect bad growth news will be reported from China tonight. Bad news for coal compsnies.
Dow up 97. Good move up for most coal stocks and natural gas. NRP moved up a few pennies at the open but dropped into the red on light volume. If volume picks up will continue to tank.
Big move up in the dow. Coal stocks mixed. NRP hanging in around $16. The nearness of ex date might hold shares at this level till after ex. Short interest has moved up over the past month but as a percentage not significant.
I don't subscribe either. Don't think that Nick Carter is allowed to make statements re NRP that are not already public knowledge. At meetings with several brokerage groups last year, nothing new was ever announced..
You are the best, jrad. Really appreciate the real time NRP information that you bring to this board. Wonder if you read Nick Carter's interview by The Wall Street Transcript's reporter (see yahoo headlines)?
Don't believe Christopher Cline could get even $10 for his shares if he dumps them onto the open market. Do you think that Corbin Robertson might buy Cline's shares? Obvious that Cline sees NO future in the coal business. Worries me!
In the 2012 annual report, 5,659,,324 NRP shares were listed in the name of Christopher Cline.
Very bad coal day. ANR and WLT near all time lows. No bottom in sight. NRP traded down most of the day but recovered and closed up a penny. . Probably because ex coming soon . Might hold the teens till ex.
More and more analysts are talking world wide slow down. Things are really slowing in China. China uses almost half of the world's met coal supply. No bottom in sight for met coal. No bottom in sight for NRP after ex date.
Dow down 65. Most coal stocks down. Natural gas also down. NRP up 3 pennies. Only news I saw was from one analyst who pointed out that NRP has traded down three consecutive days.
Only coal stock trading up today was JRCC and they are bankrupt. ACI and ANR headed to all time lows. They both lease from NRP. NRP has traded up only 3 of the past 14 trading days and ex date is near. Will see all time lows for NRP after ex. The met coal news gets worse every day.
Dow down 8. Some coal stocks trading up slightly. Natural gas dropping. Will probably see an inventory build when the numbers are announced on CNBC at 10:30am. NRP has traded mostly in the red since the open. Going lower.