coal on the move.....riv to pop

There is lots of action on the coal front.

RIV has been wandering down from the consolidation range : $6.70 - $6.20 (I'll post a chart later). Recent bottom of $5.26...since then the past six trading days have show a good uptrend.

The maiden resource for 946 must be coming shortly. Look at previous announcements on the length, breadth and depth of these seams, and draw your own conclusions.

There is plenty of action in this sector:

September 21, 2009
Indian Coal Companies Jostle For Position As The Pace Of International Corporate Deals Looks Set To Accelerate

By Sally White & Alastair Ford

India has been waking up its coal shortages lately. Last week there was a rush of activity both in the physical coal markets and in terms of equity deals. Along with many Indian companies, cement maker Gujarat Ambuja is seeking coal from South Africa and elsewhere this year. India’s largest power generator, NTPC, is said to be exploring opportunities for the acquisition of coal mines in South Africa, Indonesia, Mozambique and Australia, and has appointed Australian broker Macquarie to help.

In Australia, Rio Tinto and Hancock Prospecting are among companies said to be thinking of selling to state-owned giant Coal India stakes in their thermal coal mines. Meanwhile, Coal India, which is the world’s largest coal miner, has said that its IPO will take place within a year. The government plans to sell its stake. Markets have suggested that this will value the company at around US$1.25 billion.

Meanwhile, the strength of demand in the Asian markets could continue to lift US coal...


Don't say you have not been warned.


Cheers, Skip