Rob, I don't agree re renewables and nuclear. Neither have much of a future if dirty energy remains so much cheaper. The third world doesn't vote green and shop organic and drive around in precious little Toyota Prius (Priusii?).
In answer to your question, yes - it will be just like any other market where higher cost producers are forced out of business. That has started but it's slow. Glencore also did their bit over Xmas by shutting Aust mines to help reduce the over-supply. But it is a long process. It requires more producers to go to the wall and for Indian demand in particular to pick up (which is actually happening at long last).
Coal has been in a worse place before and recovered. It is probably the most unloved asset class at the moment - the worst of the worst - but that will eventually change.
For the time being though I'm stuck. If I sell what I hold I will trash the price and given what it has already fallen I'm content to sit and wait and check the thread from time to time for more dirty talk from Waldo. Was actually tempted to mention his line when I saw PJ but not sure that he'd take it the right way.
Waldo, if you're ever over this way how about you me and PJ catch up?
RES Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held
