weakness in coal price doesn't bode well for investment in coal rail either. Really going to need the government of botswana to step in and build this for the good of their economy, then NMR might stand a chance at a decent rally.
All comodity investment is being scaled back/smartened up to the most profitable only (to do with global uncertainty) and even australia is seeing considerable investments being pulled/changed/downgraded due to global conditions + a flimsy government imposing massive changes and taxes + delays for approval -> Maules creek mine (Aston resources, recently taken over by WHC) has been delayed for approval by 1 year currently by government.
Coal price needs to improve + global investment environment, doesn't go well for a spec stock without a proper scoping study and a 57% yielding coal (lower end thermal).
Just my 2c.
NMR Price at posting:
1.9¢ Sentiment: None Disclosure: Not Held
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