Very good article in todays Australian [finance section]. Sorry I am unable to post it. But it is saying that, India has undertaken a huge building program of new coal fired power stations. Their problem now, is the lack of coal to fire these stations. By Indian law, each station, MUST have in excess of 40 days coal supply, in reserve. The majority, struggle to have this, with many only having only a weeks worth and in some cases, none. Hence there are numerous, daily blackouts throughout the country. There is also a quote from an Adani rep. saying that the country as a whole is DESPERATE for new supplies of imported coal, which in turn forces up the cost of it.
I remember someone here, suggesting that Adani, could be one of our suitors. I am now firming, to this view, after reading this article.
LNC Price at posting:
$1.14 Sentiment: LT Buy Disclosure: Held
