Be prepared for all the green bears to come out of the woodwork when coal prices eventually fall. Headlines such as 'coal prices plunge by 10%, coal mines shut, renewables streets ahead' will be the norm. The full story will be that prices have dropped from ten year highs of US$150/t to US $135. Who cares about the mainstream. Aud/Usd falling, coal price rising, global energy demand rising (including in part coal demand), difficulty increasing supply, coal stock prices trading at very low PE's.... all reads like a decent investment case.
The only thing missing is the balance sheets and quarterlies reflecting these strong coal prices and eventually dividends. That's when the greed sets in and the market returns to coal producers.
NHC Price at posting:
$1.95 Sentiment: Hold Disclosure: Held
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