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.
Red Hill Energy reports bulk sampling and open pit expansion program at its Ulaan Ovoo coal project, northern Mongolia. The program, which will be carried out under the supervision of Minarco-MineConsult Ltd. of Australia (MMC), will remove an approximate 5-tonne working section representative sample from the mine’s open pit. Prior to coal extraction, the coal seam’s [...]
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