Dow Jones @ commodities up, TSX: CPT down on small volumes??? Any thoughts
Reviving of abandoned mines in India Coal India Ltd (CIL) will extract coal from 18 abandoned underground mines owned by three of its subsidiaries in partnership with private players. Underground mining would be revived in 6 abandoned mines of Eastern Coalfields, 8 mines of Bharat Coking Coal, and 4 mines of Central Coalfields. These 18 mines have an approximate reserve of 1.647 billion tonnes of coal. Wikipedia
I guess that COALSPUR capital and running cost will be lower.
Mines of the size of COALSPUR are a Strategic Asset!
I am looking forward to the Prefeasibility Study and Christmas.
CYL Price at posting:
19.0¢ Sentiment: Hold Disclosure: Held
