How I’m Hedged for a Downturn
October 20, 2023
Broad markets look pretty bearish here. Rates are getting pushed higher and higher and eventually something is going to break.
Category: Updates
Whitehaven Announces Acquisition
October 18, 2023
We finally got news that Whitehaven is the preferred bidder for the Blackwater and Daunia mines being sold by BHP.
Ramaco News Update
October 17, 2023
Ramaco Resources (METC) pre-announced earnings, providing a tight range for Net Income and EBITDA. They also revised FY 2023 guidance.
Alpha News Update
October 12, 2023
Alpha announced preliminary sales volumes and realizations for Q3 2023, and revised full year 2023 guidance.
Indian Infrastructure Boom
October 10, 2023
Are we witnessing the initial signs of a much larger and protracted Indian infrastructure boom?
China’s Coal-Fired Future
October 8, 2023
It’s important to think about Chinese policy and ask ourselves why their actions don’t quite line up with their rhetoric.
Reasons for the Metallurgical Coal Rally
October 5, 2023
Metallurgical coal markets continue to rally. Front-month (Oct ‘23) is at $362/mt, whereas long-term prices are currently in the $280’s:
Arch News Update
October 3, 2023
Arch released a Q3 update, revised guidance lower, and announced their Q3 earnings call, scheduled to take place October 26 at 10am.
Fog of M&A
September 28, 2023
Met names got a lift yesterday with an update of the B Riley price deck and flow through share price target upgrades.
Riff on Markets
September 27, 2023
I’m working on a long-form post on Chinese energy policy which is not quite ready for the printing press. I’m therefore going to riff a little on markets here.
Met Producer Forecasts
September 20, 2023
Now that I’ve wrapped up the forecasts for the US met producers, I figured I would share it here so that we can compare and contrast.
Met Producer Share Price Action
September 19, 2023
In terms of metallurgical coal equity share price action, it has been pretty exciting to say the least as they’ve rallied.