Downgrading Corsa Coal
I initiated the Strong Buy assessment on July 14, it’s currently trading at CAD$0.73 per share – which is an implied gain of 59%
I initiated the Strong Buy assessment on July 14, it’s currently trading at CAD$0.73 per share – which is an implied gain of 59%
After accounting for contingent legal fees, Corsa anticipates receiving net proceeds of $23.3 million from PennDot.
Demand for Asian thermal coal remains. Miners are offering limited spot cargo due to high production costs and royalties.
With most of the Q2 2023 MSHA coal production numbers in, I think its time to look under the hood and see what’s going on.
Corsa Coal (CSO.V) appears to have made significant progress as production levels have risen across all three of its deep mines.