New Hope (and SOL by association) have really been victims of this new militant form of shareholder activism that's come about in the past couple of years. They know NHC has a big shareholder in SOL so they've been targeting the industry indirectly by pressuring banks etc. to not provide finance. Robert Millner likes to make the point that 14 percent of the world still doesn't have running water or power and it's not for us as developed countries to tell them they shouldn't be entitled to it. As much as coal is problematic I think it's hard to disagree with him on that point and the investment community are focusing more on coal use declining in Australia rather than the asian countries which is where NHC is exporting to.
NHC Price at posting:
$1.40 Sentiment: Hold Disclosure: Not Held
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