perhaps they herd us northerners were going to turn up asking serious questions
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perhaps they herd us northerners were going to turn up asking serious questions
Yes - they probably want to discourage Digger I suspect. Also there was an issue with the last venue wrt sausage rolls (or lack of).
1.5 million barrels sold to date, at about $NZ100 per barrel.. at least 18.5 million in NZO's coffers in less than two months.. not too bad
And that oils been flowing since that reports been printed. and big question is PRC starting to come right ?
Was Pike ever not right!?
the market has though not, so far anyway but perhaps now with t/o talk overseas this may change
"but perhaps now with t/o talk overseas this may change"
what talk where.....??
not directly with PRC but with an aus coal company on the PRC thread they have more info but this is a post from digger hope he/she doesnt mind me coping it
New Hope Offers A$591 Million for Resource Pacific (Update2)
By Madelene Pearson
Sept. 26 (Bloomberg) -- New Hope Corp., an Australian coal miner, offered A$591 million ($515 million) in stock for rival Resource Pacific Holdings Ltd.
The bid values Resource Pacific shares at A$2.55 each, 31 percent more than yesterday's closing price, Brisbane-based New Hope said in a statement today.
New Hope exports about 65 percent of the coal from its Queensland mines to Asia, according to its Web site. It also has a 50 percent stake in Queensland Bulk Handling, a coal-export terminal in Brisbane. Resource Pacific operates an underground coal mine in the Hunter Valley, New South Wales, according to its Web site.
New Hope shares fell 8 cents, or 3.3 percent, to A$2.37 at 11:13 a.m. in Sydney, after closing at a record A$2.45 yesterday. The stock has risen 76 percent in the past year. Resource Pacific shares jumped 50 cents to A$2.45.
To contact the reporter on this story: Madelene Pearson in Melbourne on mpearson1@bloomberg.net
Last Updated: September 25, 2007 21:19 EDT
Seems to be a bit of interest in coal starting to slowly develope. Same thing could happen to PIKE once it gets producing.
Nice annual report. Interesting that the oil flow from TUI since starting is large enough that it positively affected New Zealand trade balance and will provide a short-term boost to GDP growth!
http://www.stats.govt.nz/products-an...handise-trade/
I've been quite surprised actually that the share price has not performed much better given TUI has come on stream with absolutely fantastic timing as far as the price of oil is concerned. I suspect that part of the problem is that, to date, there is still little institutional interest in the NZO. One easy way to see this is that NZ's largest institutional player, the NZ Superfund, has only around $600k in NZO - less than invested in the likes of Cadmus Technology and Methven. (Note the NZ Superfund does not pick listed stocks, this holding is via its NZ equity investment managers: AMP, Brook Asset Mgmt and Fisher Funds.)
http://www.nzsuperfund.co.nz/externa...eID=2145846741
http://www.nzsuperfund.co.nz/files/E...%20Country.pdf
Why the lack of institutional support? Partly I think its because TUI is a fairly short-lived project and much of NZ's fund mgmt industry tends to go for long-lived assets. To the extent this is the case, Pike and Kupe coming on stream in 2008/9 will be a real turning point. But I suspect we wont need to wait that long to see interest pick up...
it was a good anual report and good to see some actual targets they are aiming for to
get reserves up to 25 mmbo and output upto 2 mmbo.
And perhaps an indication that they will help options be in the money come june next year
"one clear objective is to ensure that NZOGs value is fully recognised in the market place ahead of june 30th 2008 final date for option holders to excise the share options which the company has on issue "