RE:RE:RE:RE:RE:RE:RE:RE:RE:Wow, still no newsNice day in terms of volume over 1ml shares traded today and all at or above last wednesday close of $2.43, CAD has averaged a price of $3.08 on almost 4ml shares since last week and traded almost 7.5ml shares at an average of $2.52 from Oct,1st-OCt 27th. September was 7ml shares traded at $1.29. August was 1.3ml shares at $0.81. CAD shares can be difficult to buy and sell so the recent increase in volume is a big positive. Based on the higher volume of shares traded and lack of insider selling CAD looks to have a new average floor price range of $2.50-$3.05.
Recently this month price was running a bit ahead of the volume. Today is a discount from the $3.08 week average.
CAD is mainly held over +50-80% by long term investors and company insiders not traders.
The recent spike in price has started to reflect the reality of the value in met coal and should continue.
These assets will be sold its still a when not an if. CAD has +695ml tonnes of met coal current US price per tonne +$400US. The BC assets are held near other met coal mines, rail, power and ports are all close by.
CAD current value less than $0.75US per tonne. The Gassy mountain met coal sale in Alberta not near shipping or port was sold at $3.10US per tonne last year on +$200 tonne met coal pricing. You buy CAD to hold long term.
No one has any idea when these assets will get a buyer or buyers. If you believe in the green revolution, new housing and replacing aging infrastructure long term. Then buy met coal it is black gold. Currently there is no replacement in terms of $$ energy and cost. New Mini mills that run on natural gas or hydro electric require recyled steel and a blend of new steel. These can only provide up to 20% of global steel demand. Foundry met coal steel will make up 75-85% of
world demand for atleast the next 30-45yrs. New steel energy technology may be adapted over time but currenly is 30-40% more expensive than exsisting proven method. Its not reasonable to expect all current foundrys to be replaced in the next 10years at a cost of several trillion US dollars.