1. 3.84% SP increase, & $104m turnover today- possibly second...

1. 3.84% SP increase, & $104m turnover today- possibly second highest in last 12 months. Clearly the instos are still heavily buying, & very bullish for continuing growth in WHC SP.

SMR & CRN also big SP growth today- apparently widespread belief met coal supply problems, from August 2024, the main driver.

st.ock.head 3.7.24 J. Chiat said

"...Analysts at Jefferies reckon it’s [Grosvenor] about 30% of the value of the ~US$4.5b portfolio...

Those coal assets could now come cheaper, if someone is willing to bet on them with regulatory and safety concerns to consider.
The biggest winners here are BHP and its fellow Queensland met coal miners:Whitehaven Coal (ASX:WHC),Coronado Global Resources (ASX:CRN)andStanmore Coal (ASX:SMR)...

Anglo American is reportedly well stocked for July deliveries and is yet to declare Force Majeure with any of its customers, but the futures move gives a hint that traders are expecting shortages as August and September contracts are drawn.

Fastmarkets regional editor, steel and ferroalloys, Paul Lim, said the biggest impact would be felt by customers in India, who have few long-term contracts.

If Japanese, Korean and Taiwanese customers saw a shortfall they could also put higher bids into the spot market from August.

“Some of the Indian mills do not have term contracts for Australian coals. Secondly, it will be the JKT mills – Japan, Korea and Taiwan,” Lim told*.

“Some of them don’t take sanctioned cargoes, like Russian, so they depend on Mongolian (and) they depend a lot on Australian coals especially as Australian coals are also very near to them, so it’s a good supply chain for them.

“They may see supply shortfalls out of JKT, and when that happens you may see JKT becoming more active buying in the spot market, which is why traders are also looking to cover more August positions.”

Bulk Buys: Anglo walking on hot coals as fire hits sale process - Stockhead
(Google "St.ock.head Anglo walking etc." in link to open it full).



2.australianmining.com 17.5.24 K. said

(Re possible buyers of Anglo coal mines) "... Stanmore Resources, Whitehaven Coal, Coronado Global Resources, Peabody Energy, Teck Resources, and Glencore could also join the pot of potential suitors, given their respective synergies".

Who will buy Anglo’s Aussie coal? - Australian MiningHow could SMR & CRN have the funds to make a bid for the suite of Anglo mines...capital raise? Vendor finance (ala BMA)? Or seek one mine only?
It is interesting no mention was made in the article that heavily cashed-up Yancoal could be a possible buyer.