Arch Coal has completed the acquisition of Rio Tinto's Jacobs Ranch coal mine for $764 million. For Rio Tinto, under tremendous pressure to reduce its $42-billion debt, the selling spree has just got underway. Meanwhile, rival BHP Billiton is sitting pretty with $18 billion in cash, and is eyeing 5 acquisitions. So is Western Coal.
Continue reading "Rio Tinto's Debt Gamble, BHP Builds"
Monday, March 2, 2009
Coal stocks have been hit hard in this recession, given slumping electricity demand in the U.S. and the sharp drop-off of steel demand. For shareholders of Patriot Coal Corp (PCX: NYSE), the pain has been particularly acute. The stock lost 96 per cent of its value since last June's record highs. This year alone, Patriot's stock is down 41 per cent versus a 1 per cent decline by the Dow Jones U.S. Coal Index.
Continue reading "Coal Stocks Swing"
Friday, February 13, 2009
We are into the second half of the second month of 2009 and pressure on coal prices have not eased. While the long-term outlook in this sector remains strong, thanks to strong fundamentals, spot prices continue to be under pressure. The reasons are being cited as high utility coal inventories, lower demand for electricity and competition from natural gas.
Continue reading "Coal: Bullish On The Long Term"
Tuesday, February 3, 2009
Cash Minerals Ltd. announced that it has closed its previously announced non-brokered private placement offering of 5,600,000 units at a price of $0.25 per unit. For full story, click here
Continue reading "Cash Minerals Closes Private Placement Financing"
Monday, November 17, 2008
Cash Minerals Ltd. posted results from a recently completed NI 43-101 pre-feasibility study on the Division Mountain coal property, located in the Yukon Territory. For full story, click here
Continue reading "Cash Minerals: Positive Coal Pre-Feasibility Study"
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Thursday, October 1, 2009