Margin pressure has been released. CRN in a good position to take advantage of increased margin, also due to CR (didn't necessarily agree with it), CRN are in a strong financial position to reward share holders with a decent distribution. The price of PLV HCC FOB DBCT has increased from USD$110/t to USD$211/t in the 3 short months between end of April and now.
CRN's average realised price for PLV HCC FOB DBCT was USD$105/t for the quarter ending June 2021 - it is a no brainer to see where the average realise price will end up in the Sept and Dec quarters. The CRN cash cost of mining was USD$64/t.... Everyone can work out what the current operating EBITDAC margin, everyone can also have a good guess at what it will be when the average realised price near on doubles.... Margin will be 2-5 times current margin in the June quarter... Curragh will be printing money, as will every other bowen basin PLV HCC mine!
Still a buy in my mind and will be accumulating at current MC.
30/4/21
Ann: Quarterly Activities Report, page-6
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Last
95.5¢ |
Change
-0.025(2.55%) |
Mkt cap ! $1.601B | |||
| Open | High | Low | Value | Volume |
| 98.0¢ | 98.5¢ | 95.5¢ | $1.242M | 1.291M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15466 | 95.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 97.0¢ | 5736 | 2 |
View Market Depth
| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| CRN (ASX) Chart |