There is alot of negativity around thermal coal at present and its future especially with shale gas becoming a bigger player. Japan may have turned off there nuclear reactors but what are they going to choose as a replacement!!??
Coupled with the above, having the greeks hold the world effectively hostage is not helping stock markets whatsoever!!
The fact is thermal coal is now out of favour - for now! Maybe it will come back in favour in 12,18,24 months time when the financial institutions decide it is time to ride that bandwagon again. Until then i hold as i dont need the money and hope that at some stage down the track the infrastructure is in place for metrocoal to sell there coal at a profit!!
MTE Price at posting:
29.0¢ Sentiment: Hold Disclosure: Held
