Nevcop- (sorry to single you out here just saw your last post thats all)
32 billion tons of coal as a presumption is completely nuts (in reserves terms- as in mineable etc).
The world's LARGEST coal company, Peabody of the US of A, (although China's Shenhua should overtake them soon), controls 10.2billion tons and we're talking worldwide not a single basin or something....I know your just being hopeful or whatever but lets keep things in perspective. For SXP to hit that would be....well everyone can see where I'm going.
Even if these claims are coming from SXP management, well its good they're aiming high albeit at the moment I think i a little optimistically (just slightly !)
The ENTIRE international coal trade (exports) is about 850 million tons this year. That number includes thermal and metallurgical coals.
You mentioned prices, they vary depending where your buying from as freight is a huge cost.
Out of Newcastle Thermal coal is about $70/t right now and Met coal (although these operate as contracts like iron ore not typically spot prices) $100ish depending on quality. And you can't just multiply coal in the ground by these prices they are heavily dependent on the coal characteristics. One deposit will hold a few different types.
I do like SXP as a spec but thats all it is.
SXP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
