It was like it was sitting at 7.69 for an hour and when no more bites, they sold off. Good trick by the market makers.
He wrote the article for INSTITUTIONAL investors not retail. Who knows if he is right that there won't be any stoppage in work or not at Republic Airways?
Now about $49 and going to $45 by Monday.
China is rapidly slowing down. And when ever they can, using their own mines for inventory. CLF may not go bankrupt this year but next year possible.
Every single company involved in iron ore, coal, gas, oil, has been destroyed. ANR, ACI, WLT BTU, etc. have gone into bankruptcy or about to just in the last month.
What a scam for 35 years.
Who was doing the dumping?
CHINA HALF-YEAR ELECTRICITY FIGURES REPORTED- COAL IMPORTS SHRINK AS ELECTRICITY SECTOR TRANSFORMATION GATHERS PACE
POSTED BY ANDREW BRADLEY
Thursday 16 July 2015: Key half-year statistics released this week by China’s National Energy Administration show the continuation of a major electricity sector transformation in the country, with profound ramifications for Australia’s coal export industry, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
“The news for countries exporting coal is gloomy,” said Buckley. “Of the coal which continues to be used, it’s no surprise that China has moved to protect domestic production. Imports in the first half of 2015 were down 38% yoy, on track to decline by over 80Mt yoy in 2015; a number almost double the combined increase in demand for thermal coal imports from India and all of South East Asia expected this year.”
The National Development and Reform Commission said Tuesday that Chinese imports of coal also fell, plummeting 38 percent.
China uses roughly half of all of the world's coal production for power generation, heating and industry. That's made China the world's biggest emitter of carbon dioxide, a greenhouse gas.
President Xi Jinping has pledged to stop the growth in carbon dioxide emissions by 2030 and clean up the country's polluted air. He's also promised to double the percentage of renewable energy in China's energy sources by that year.
No one saw China collapsing like this.
No one could expect that Chine cut back in 38% of coal import in first 6 months. THAT IS ALMOST HALF OF THE IMPORTS!!!!!
That is the shocking data that no one knew until Friday that china cut back coal imports by 38%. That is a truly stunning number and I wonder how much that affects BTU. What percentage of the business is China?
If that is the case why are they in bankruptcy and delisted?
Both WLT and ANR do. Look at ANR they have over $900 M in total cash on balance sheet but they were delisted from NYSE yesterday. It is pretty funny that both WLT and ANR had lots of cash (thought they borrowed to the hilt and paid extraodinary interest rates)
There are so many stupid people like who think they know and you really don't know. so many people lost so much money not understanding cash doesn't mean much when you borrowed too much.
Total Cash (mrq): 906.47M
Total Cash Per Share (mrq): 4.08
Total Debt (mrq): 3.32B
The situation for coal in India
The situation in India is far from clear. There have been big headlines about a 23% increase in coal imports to 12 major ports in India from April-June 2015 (compared with 2014), although these ports account for 61% of total coal imported. A cynic might wonder if these figures have been massaged to support the need to have a dramatic increase in Indian imports to balance the dramatic decline in China.
A report for June 2015 coal imports indicates no increase compared to June 2014, as local coal supply increases. Coal Secretary Anil Swarup is reported to have said that as local production grows, imports will go down gradually. Coal India's April-June 2015 output rose by 12%.
Figures attributed to mjunction for Jan-June 2015 show little change in overall coal imports into India (coking coal 9.38 million tons Jan-June 2014, 10.5 million tons Jan-June 2015; thermal coal 44.94 million tons Jan-June 2014, 44.67 million tons Jan-June 2015). Importantly the report notes that there has been a marginal decrease in thermal coal imports. Curiously this report then goes on to indicate that coal imports have actually risen 12% to 59.41 million tons (noting that the figures given indicate 55.17 million tons). There is a typographical error somewhere in this story.
It is a brave person who claims to understand what is going on in India, but I'm skeptical about the headlines claiming 23% increase in coal imports, given other reports from mjunction (which collects information at the ports) indicating the imports are increasing at a substantially smaller rate, if at all, year on year compared with 2014.
So caution is needed in assuming that BTU coal not being shipped to China will end up in India.
what about debt covenants on their loans? Would that affect things? Do they have enough cash to hand interest payments and operations?
are you sure this can last with enough cash to survive?
If this private placement was willing to pay $3.87/share why wouldn't others bid it up to that price?
ANTH did a 3.3 million share offering at $7.50 and there shares are trading a little above at $7.67. Why is it only CBLI trading 35 cents less?????? Does that make sense?