There are a number of companies that will benefit from the increase in coking coal price but one with possibly the biggest upside will be Pike River Coal PRC. They are in the final stages of development of a high grade coking coal mine with life of about 20years at a production rate of 1M tonnes per year. PRC are fully funded through to production with no debt - their prospectus was based on a coal price of $100 per tonne and their share price has had no increase since the float 9 months ago yet the project is now significantly derisked and coal prices have multiplied.
Others to consider?
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- 210 percent increase in coking coal prices
There are a number of companies that will benefit from the...
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