unless of course buying 11 mil pushes the price up 12 cents....
last time vol was over a million the price went up 15c that day
could of course just start buying them until price hits 1.30.
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unless of course buying 11 mil pushes the price up 12 cents....
last time vol was over a million the price went up 15c that day
could of course just start buying them until price hits 1.30.
NZO has been very supportive thus far, so why not show the market some faith in Pike River & convert them?
NZO will realise a very tidy profit in due course from it's PRC holding, & the SP will be well north when PRC hits its milestone production target.
NZO also have the convertible notes left don't they?
From the NZO site under Pike River
"NZOG's current shareholding in PRC is 102,637,600 shares (29.6% of issued capital). NZOG also has 17,266,132 options (exercisable on or before 24 April 2011 for NZ$1.25 per share). 11 million unlisted options with an exercise price of $1.30 per share expired on 30 June 2009."
Misplaced faith in the price of the coal I think. While PRC sold make a profit, its not going to be crazy money. International coal prices have dropped as is steel production.
This from the Solid Energy website: "We expect this downward trend to continue through 2009 and into 2010. Steel makers worldwide have cut production by up to 30%. Current export coal spot prices are down by more than 50% and contract export prices are likely to follow
http://www.coalnz.com/index.cfm/1,29...n-Solid-Energy
March 13 - Old news notie. Japan increasing steel production, working weekends again. US and europe still quiet but China and India stepping up - all systems go for coking coal IMO. Potential for a missed heart beat before October but with so much cash injected around the world into infrastructure projects becoming less likely.
With slight delay at Kupe (3rd qtr to 4th qtr) the extra 15M from not taking up PRC options will help NZO pay their dividend. I also assume that PRC doesn't need the money.
:)
[QUOTE=Bilo;263049]March 13 - Old news notie. Japan increasing steel production, working weekends again. US and europe still quiet but China and India stepping up - all systems go for coking coal IMO. Potential for a missed heart beat before October but with so much cash injected around the world into infrastructure projects becoming less likely.
With slight delay at Kupe (3rd qtr to 4th qtr) the extra 15M from not taking up PRC options will help NZO pay their dividend. I also assume that PRC doesn't need the money.
:)[/QUOTE
word is nzo might use that 15M to farm in on another offshore Taranaki well they aren't involved with at the moment
Just got back from Hong Kong and as soon as i saw a Notie post i knew it would be a twist of the facts in some way. This time it is using old news.The report given here is dated mid March before and economicy activity has picked up since then. In fact looking very positive when all you can find on the negative side is months old.
Does anyone notice all the ESOP announcements. Over the last 6 weeks there have been 5.
14 May, 150000
21 May, 161000
3 June, 100000
15 June, 50000
30 June, 400000
So over 860,000 shares allocated to staff in 6 weeks, and I think there are less than 20 staff. Do the staff not get paid or something.
sorry to be over negative, but the reality is coal prices are still very much lower that when that pr project kicked off.
It will no doubt make an OK profit, but nothing that spectacular which is what an oil exploration company stock can do if they go out and find some decent things to drill then lay off interest to other parties on a free carried basis. Something NZOG isn't doing unfortunately....:confused:
Things may change at nzog, but given the board's micro-management of the activities of the company and their well known adversity to risk exposure then I can't see them spending their 200M any time soon. Risk is what exploration is all about and they have a nice little earner going with Tui and Kupe soon, so they have no excuse not to go out and chase some elephants.
I would put a 5% chance on them taking this kind of action