Morning all. Hope everyone is surviving the various states of lockdown..
Just wanted to mention that Coking Coal futures have popped again to a new high this morning. Courtesy of ANZ below.
Even thermal coal is on a tear. Is this just being driven by other countries coming back on line with stell production?
If I remember correctly there was a comment in one of the annual presentations that each US$10 movement in the coal price added $100m to EBITDA. Can anyone remember if I am quoting that accurately? I am pretty sure its right.
@miningnut
Where do you see this quarter pitching? How are we looking if this pricing holds for another quarter? Surely this should help big time in reducing our debt noose. If we could manage to ride the wave and get right out from under this debt we would be in a great position for the future. Especially as most of the stimulus being directed to infrastructure hasnt been spent yet. Feeling like we may have bottomed price wise.
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