Agree, the most plausible explanation in my mind is we are seeing a rotation out of more thermal dominant companies into CRN. In this case WHC's loss is CRN's gain in terms of where fund managers are heading.
Now yesterday a poster questioned the value of the USA asset within CRN's stable namely Buchanan. At the risk of being moderated for cross promotion which this post is not, I would suggest you may could look at a pure HCC play in the USA that is listed in the USA as a proxy for the relative improvement in prospects for the Buchanan operation. The company that would be a proxy is Warrior Met Coal ticker HCC.NYSE. If we look at the price action in this stock it helps to support the recent action in CRN in terms of the improving sentiment toward the prospects moving into 2021. From a low in April of 9.46 to today's value of 19.36 represents >100% increase, this can potentially represent the "markets" perceived value of a USA coking coal asset.
Anyway a little food for thought as we try to rationalise the recent SP action in CRN.
Good luck people and as always DYOR and I might just know sh1t.
Cheers
Robin
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