In the recent investor presentation its interesting to note the proposed time frame for the Buller assets to begin exports. It's the same (full year 22) as the start of projected exports from the Crown Mt product, and the development of the Ruawaro Mine. The graphs (healthy as they are now, and incidentally new exploration permits have been submitted for Denniston, Milllerton Fly Creek and Blackburn), and what else is in the wind.
There are no commercially viable technologies to make steel at scale without coking coal. We used 300,000 tons of coal per year at the Huntly Power Station NZ over the last few years and that won't change for years to come. Data recently published showed the country coal fire generation in the 6 months through March doubled from a year earlier as a result of gas shortages. If we don't mine the coal required to run the Huntly Power Station when we need it we will have to import it.
In my opinion it's hard not to be positive about the company, the management and the future.
BRL Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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