Foundation Coal Holdings Inc. announced a Q1 2009 net loss of USD 4.5 million or USD 0.10 per diluted share as compared to net income of USD 6.2 million or USD 0.13 per diluted share in the Q1 of 2008. For full story, click here
Continue reading "Foundation Coal declared Q1, 2009 results"
Monday, May 4, 2009
Gulfside Minerals Limited declared that the Company has signed final Share Purchase Agreements with two private Mongolian companies to acquire 100% interest in three Mining Exploration Licenses encompassing the Khar-khonkhor Brown Coal Deposit and the Onjuul Brown Coal Deposit located within the Choir-Nyalga Coal Basin situated in SW Mongolia. For full story, click here
Continue reading "Gulfside Minerals acquired Onjuul Coal Property"
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"
Wednesday, January 21, 2009
The new president’s inaugural address had the attention of both renewable energy supporters and the coal industry as he addressed topic of climate change. The Obama administration is expected to usher in a new age of greener politics and that has many in the coal industry nervous.
Continue reading "Coal and a greener White House"
Friday, November 21, 2008
Teck Cominco dropped to the lowest price in 20 years after announcing it would halt dividends and cut spending to repay debt from last month’s purchase of Fording Canadian Coal Trust. For full story, click here
Continue reading "Teck Drops to Lowest in 20 Years"
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Wednesday, May 6, 2009