In 2019 Xcoal claimed they were interested in purchasing australian resource companies in order diversify away from US for "national security reasons." Apparently Xcoal had been selling Pennsylvania coal to Ukraine. It was recently announced that Russia has now made a deal to sell coal to Ukraine. I can only speculate that Xcoal interest was only temporary to cover the shortfall that would have occurred due to unexpected sales to Ukraine?
What interest does QCoal have then or more to the point who are they acting on behalf of? China has already been burnt. It appears to be unviable even with Newcastle Coal Prices at near $100.00 and no party has been able to keep this project afloat. So what is this dog even worth?
B2Y Price at posting:
2.9¢ Sentiment: None Disclosure: Held
