ABOUT
OUR MISSION
To provide investors with a unique lens on the mining and coal sectors in order to successfully allocate capital throughout the commodity and CAPEX business cycle.
Founder
David N. Dyer, PG
Consultant & Coal Analyst
thecoaltrader.com was founded by Mr. David Dyer, a coal industry analyst with over 18 years of broad based international experience evaluating and developing natural resources, analyzing commodity markets, and forecasting prices. His passion intersects where extractive resources meet financial markets.
He has real world – “boots on the ground” experience in the mining and energy sectors throughout the US and abroad: Australia, Canada, Indonesia, Mexico and South America. In my early career as a consultant, he managed numerous coal exploration projects around the world and developed resource & reserve models for JORC and NI 43-101 compliant reports. From there he moved into successively more strategic roles, from managing and negotiating coal leases, to budgeting, forecasting coal prices, auditing, and performing various financial analyses as warranted.
With thecoaltrader.com, David delved into public coal markets, leveraging his extensive experience to provide an insider’s perspective on public coal equities.
If you need an independent third party review of coal markets, private transactions, or anything coal related, feel free to contact me at ddyer@thecoaltrader.com. TheCoalTrader.com serves as your independent equity research resource, free from the usual hype and political agendas that characterize traditional Wall Street investment institutions. I hope you’ll find this viewpoint not only refreshing but also invaluable in your decision-making process.
CEO
Matt Warder
Consultant & Coal Analyst
Since 2023, Mr. Dyer has handed the day-to-day runnings of thecoaltrader.com to Matt Warder and his firm, Seawolf Research.
Matt Warder is an energy, metals, and mining analyst with nearly two decades of experience covering the natural resource and industrial sectors. As founder and CEO of management consultancy and financial analytics firm Seawolf Research, he provides investment and consulting services to clients across multiple sectors with a pronounced focus on energy, metals, mining, and industrial supply chains.
Prior to forming Seawolf, Matt co-founded and served as Director of Energy Capital Research Group (ECRG), where he managed an 8-person team dedicated to cross-sector equity research, due diligence, financial modeling, and commodity supply/demand/price forecasting for a major financial publisher. In that remit, he designed and directed development of a Python-driven, customizable financial data platform for his team’s proprietary securities analysis, and authored a weekly natural resources-focused newsletter alongside legendary mining investor Rick Rule.
Matt’s tenure at ECRG followed nearly a decade at global energy/metals/mining research consultancy Wood Mackenzie. At WoodMac, Matt served as Principal Analyst for Coal, Iron Ore, and Steel Costs, leading several supply side analysis teams across the North and South American industries, and helping to develop the company’s asset-by-asset cost research from the ground up. While in those positions, he authored over 150 reports annually covering individual assets, regional supply studies, and emerging trends in the steel raw materials markets – in addition to providing bespoke research and consulting services for industry clients and institutional investors.
Matt frequently presents at natural resources conferences around the world and holds a Bachelor of Science in Chemistry from the College of William & Mary.
Substack
Check us out on Substack!
We’re active on our Substack page, where Premium subscribers can interact with TheCoalTrader principals like Matt Warder to ask questions, get feedback on investment ideas and chat with other readers. It’s a great way to stay up to date and get great value from our content!
Free Stuff
Coal Sector News Aggregation
The Homepage is full of coal industry news. We take news from around the web, curate it and add context for TheCoalTrader audience for FREE.
Coal Market Information
Review Free Coal Markets data such as the current forward curves for each coal futures contract.
See Here for Met Markets,
And Here for Thermal Markets
Premium Articles
Company & Sector Specific Articles
Premium Articles provide coal producer and sector specific special situation deep dives which aid in the reader’s knowledge of industry intricacies, and provide an edge in investing.
These articles also provide periodic forecasts for industry specific trends, including spot pricing and forward curves, supply/demand fundamentals, and more.
Detailed Company Write-ups
Company Specific Deep Dives
Premium Articles include company deep dives and the Premium Bundle includes access to TheCoalTrader’s Substack.
See the sample below on the Donkin Mine & Morien Resources, for example:
Equity Research
Equity Research & Long Term Assessments
Premium Subscribers get access to TheCoalTrader’s long-term fundamental outlook for each coal producer we cover. See here for coverage.