This is the beginning of May and by the end of May .....
"Pike River Coal Ltd has made good progress in restoring its coal mine on the West Coast of the South Island with full ventilation expected by the end of May. The company has said that the first export shipment of 60,000 tonnes of coal to Japan was due in the July-September 2009 quarter. Hydro mining is scheduled to start during the October-December quarter, boosting production to one million tonnes a year"
The other good news is that they are happy with the present level of coking coal prices and expect to settle the next lot of contracts around that US $128 level which is quite a bit above what they expected when the company was first floated.
PRC Price at posting:
58.9¢ Sentiment: Hold Disclosure: Held
