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aya..indonesia flood lah..mines surely afffected...also the TEMASEK price-fixing guilty charge..i think foreign investors will start withdrawing their investment enmasse siah.....
cant be too wrong to SHORT this burger !! :P
That was quick. Down 5% since I posted on large blocks. Seems likely to fall further.
SELL. This stock is vulnerable to a large correction and intraday sellers are stepping up the action in the last few days. Coal has been rising but the positives have been priced in. Most other coal stocks in the region have been hit hard on the market reversal, except SAR. China Coal -26% from peak, China Shenhua-27% from peak, etc. If you really want to be long, you should buy the parent SRL in Australia instead. It's holding in SAR is worth more than the market cap of the company i.e. you are getting paid to own SRL's copper mining business.
Straits Asia Resources has agreed to acquire 100% of the huge Jembayan coal mine in Indonesia's East Kalimantan province for US$350 million. Jembayan is expected to produce about 4 million tonnes of coal this year. The concession covers almost 13,000 hectares but only 48% of this area has been explored, implying significant upside potential, SAR said. An independent review of the deposits has identified non-classified reserves of 41 million tonnes and resources of 115 million tonnes, it said.
'The acquisition will deliver immediate benefits to Straits Asia as it allows us to expand our '08 production to a target of around 8.5 million to 9.5 million tonnes from our 2 mines,' said SAR CEO Richard Ong. SAR will embark on an extensive exploration programme over the next 12 months.
How come never cheong much despite good news?
Straits Asia Resources soared after the firm's announcement of a coal mine buy in Indonesia boosted investor hopes of higher earnings, dealers said.
"The market views this as positive, in fact the share price has been going up on expectations of such a deal...the market expects that most likely earnings will go up because of the acquisition," said a local dealer.
Straits Asia Resources said in a statement it has bought a coal mine in East Kalimantan, Indonesia for US$350 million. The mine is expected to double the group's annual coal production in '08.
ohh noo.....today is the make or break day!! hopefully SGX buy-in for me will be lower :P else eat grass liao !! WOw...wat diff of 2-3days can be !! :PP
BUT hey! that is the excitement right?!??!!? hee....
cheers !!
With crude oil at record highs.....interests in alternative fuel energy will increase with even more intensity now...why else do u think the management is doing, buying up coal mines everywhere? 
Hi all, bullish homing pigeon i read on the charts of straitsasia. MACD still postive. I closed my short and now have long exposure on it. Cheers man! catch it before it the coal mine gets too hot
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| SINGAPORE (Thomson Financial) - Straits Asia Resources Ltd, a unit of
Australia's Straits Resources which operates a coal mine in Indonesia, said it will acquire 100 percent interest in the Jembayan coal mine in East Kalimantan, Indonesia for 350 million US dollars. The company intends to settle 275 million dollars of the purchase price in cash and issue 75.09 million new Straits Asia shares for the balance. The share issuance represents 6.9 percent of the company's enlarged issued share capital. Straits Asia said the memorandum of understanding on the acquisition, signed with Jembayan vendors Vital Century Investment, Pacific Communication Corp and Mitsui Matsushima International Pty Ltd on 27 September, has now become a definitive sale-and-purchase agreement. The Jembayan mine has been operating since 2004. As of last year, the mine had produced about 4.0 million tons of coal. "The acquisition will deliver immediate benefits to Straits Asia as it allows us to expand our 2008 production to a target of around 8.5 million tons to 9.5 million tons from our two mines," said Richard Ong, chief executive officer of Straits Asia. On October 26, the company also announced that it has agreed to buy two more coal mining concessions near its coal mines on the Indonesian island of Sebuku. The two concessions are estimated to have coal reserves of 34-50 million tons, of which 4 million tons can be mined immediately. (1 US dollar = 1.44 Singapore dollars) pearl.bantillo@thomson.com MMMM |
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looks like minor correction ... should still be able to see upside to this stock
Why the selling still continue? Where is the bottom?
Look likes HOPEFUL is still stronger than FEARFUL. Today who will win? What say you.
This counter much overbought. Can it go up further or down to the drain ?
if yester is scary..wait till u see today!! hee...2.63 !!wow...hopefully by Thur b4 SGX buy-in it can drop in a more significant decent way :PPPPPPPPPP
Looks like the share price is playing catch up with the exceptionally bullish expectations....I think the correction yesterday was healthy...a bit scary though to drop more than 10% (30 cents) within 3 hours
WAH!!! this time really HO SAY LIAO !! 2.76 now !!! keep it coming babes !!! :PPPPP
wahHHH!!!! lai liao !! 2.82 this burger !! hor say liao loh!! maintain likedat or drop even lower till Thur please !!!! heeeeeeeeeeeeeeeeeeeeeee..............
hahahhahaahah.... :))))))))))))))))))))))))))
Me small player for kopi $$ unlike u leh, only went in 100 lots and hope to have cigarettes and 4D money for the week...hehe
wah lao...4cts diff with each bid at 0.005...only 8bids diff..like dat u also dare to SHORT??!?! wow u are gd!! hee...anyway the rule is...wider price diff then SHORT lah..this wan too narrow and price dont fluctuate fast enough...i dont dare to play...anyway...hee..StraitsAsia 2.92 liao!! wow...seems like i may be in luck again this week !! :PPPPPPPPPPPPPPP