Novadx Ventures Corp NDXFF

Raymond James on met coal

[LaurinDE]

RJ Energy Stat of the Week
Excerpt:
Last week, at the Raymond James 31st Institutional Investors Conference, strong
attendance in the nearly 50 energy presentations reflected a high level of
interest in the sector, despite a distinctly bearish backdrop when it comes to
North American natural gas. We identified these major themes in company
presentations, discussions with buy-siders and comments from the energy dinner.
Coal: Met coal markets continue to strengthen as domestic thermal coal markets
rebound. With global steel demand expected to be up 8+% in 2010, met coal
prices have rebounded from $129/metric ton in 2009 to recent spot deals in the
$200+ range. On the thermal side of the equation, the cold weather in
conjunction with increased cross-over coal and reduced production is helping
shrink bloated inventories at the utilities faster than expected.