CAD.V 2022 YTD Average $2.26 7.2ml tradedTrading today below YTD average of $2.26
Australian Coking Coal was $276 a tonne Jan 04,2022 - Apr 1,2022 $480 tonne = +$204 +75%
YTD Jan 01,2022 - Apr 04,2022 Average $2.26 7.2ml traded.
Today average Apr 04, 2022 $2.02 150K traded. -$0.24 -10.6% on YTD average of $2.26
Large shareholders, management and institutions contiune to hold over 70%, interesting to see if any new institutions hedgefunds willing to take on a new position this year. Big discount to current met coal per tonne price. New issued management options priced at $2.29. Not sure what the wait is on this explorer, the US producers are up example Arch Resources +47% YTD, British Columbia based TECK is up +40% YTD. Colonial is down -10.6% YTD and right on its 52wk Average Apr 04, 2021 - Apr 04, 2022 of $1.93 on 41ml shares traded.
There is currently no economical replacement for met coal in the mass production of steel. Experimental test Hydrogen furnaces currently require a rare type of pure iron ore. All others including electric require a mix of new and recycled steel.
The postive steel is 100% recylable, so unlike Oil and Gas that is only consumed Steel can be and is reused. If only met coal is used for steel production and thermal Coal, Oil and Gas are eliminated we would be able to lower green house gas to below sustainable levels. I agree in the distant future we may be abe to eliminate met coal but as of today it is a necessary cost effective way to build everything a modern country needs. Colonial Coal is estimated to have more than 600ml tonnes of Met Coal. British Columbia has enough Met Coal to supply all of the G7.