Hi everyone out there in these sobering and apparently...

Hi everyone out there in these sobering and apparently relentless days of price attrition in here.

If there really was a $1.70 ledge that NWH price was holding, it seems to have just let go .

But there IS work still out there  .. for instance maybe  “Stanmore Mark II” will feature Golding ?

Golding has been working with Stanmore Coal in Queensland’s Bowen Basin since at least 2016 [link] when  Nick Jorss (interviewed in today’s story below), awarded it the Isaac Plains Coal Mine Contract [see here].

Since NRW bought Golding there have been a number of contract extensions for Stanmore which  I think was taken over by Golden Investments in May?[link] )



https://thewest.com.au/business/bow...e-mark-ii-ng-df2cb2f084dfc8eff098bef89226c458
Bowen Coking Coal raises $2.25m for “Stanmore Mark II”
Glen NorrisThe Courier-Mail
Monday, 13 July 2020 7:18AM



The man who invested $1 in a struggling Queensland coal mine five years ago and turned it into a billion dollar asset is hoping to repeat his success in the Bowen Basin.
Bowen acquired the mine from Peabody for $1 million in cash and up to $1.5 million in coal royalties. The acquisition comes with access to a coal handling plant and rail access. The mine, located about 25 kilometres northeast of Moranbah within the Central Bowen Basin, will employ about 200 people.

Nick Jorss from Bowen Coking Coal. Credit: News Corp Australia
“We are looking to build a mid-tier operation and we believe we are the right team to do it,” said Mr Jorss. “We like to find mines, get them up and running and make money from them. We like assets that are depressed.“
After raising funds for the transaction, Bowen hopes to be in production within two years. Former Stanmore chairman Neville Sneddon now chairs Bowen while Stephen Bizzell, a co-founding director of Stanmore, has become an investor in Bowen through the capital raising.
Mr Jorss said that with governments around the world boosting infrastructure spending to overcome the pandemic economic slump, he hoped demand for coking coal would be at buoyant level when production at the mine starts in about 18 months.
Bowen managing director Gerhard Redelinghuys said Broadmeadow East was the most advanced
project within the company’s current portfolio of coking coal development projects.
“This reflects the board’s desire to transform the company from a developer to producer as soon as possible,” said Mr Redelinghuys.