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981-1000 of 1114
when is this baby going to wake?
some one seem to offloading a lot of it. ......
Still waiting fr the giant within this baby to be waken up..........
Just crossed over zero...next stop 0.065, volume picking up quick quick, then go to 0.07 my boss said wor, tomorrow likely to see lot more players on this. compare with Straits Asia, this is way way way behind in price, need to do some justice..above no call, DOYDD. Do not peek at this chart to all TA detractor, haha....guess you can pick up signatures from our frequent fellow forumers (3Fs)..
This one is a gem.....still to be waken up. Still 0.055.
I thk it needs its 2nd qtr results to wake it up..............
on April 15 it broke up with 37.8million shares
on May 8 it broke up with 250million shares.
large vol .
going to break up. any comment.
ABTERRA: Crowd puller at SIAS mega seminar
INDIAN DEMAND for steel will shoot up in the next 6 months, predicted Mr Mahesh Mehta, an executive director of Abterra, the coal and iron ore trader that is integrating upstream into mining.
And a high global turnover of steel is good news for Abterra, as its top line comes mainly from the trading of metallurgical coke, coal as well as iron ore, which are the key raw materials in steel production.
As the world’s fifth largest steel producing and consuming nation, India’s huge infrastructure demand will boost global steel demand, Mr Mehta explained.
He was speaking to over 80 investors at the Asia Investment Conference and Exhibition organized by SIAS at the Suntec International Convention Center on Sunday.
The rising global trade in iron ore is a sharp contrast to the standstill it was at during the first quarter of this year.
Despite this, Abterra was able to grow 1Q09 revenues by 49% yoy to reach S$65.9 million, thanks to a near doubling in its trading turnover for coking coal and coke to S$64.9 million (up 194%).
Mr Mehta assured investors that demand has picked up again. Things are also looking rosy in China, which is also the world’s largest steel producing nation.
Its iron ore output in June had leapt 27% month-on-month to reach 93 million tons, while its crude steel output rose 6% yoy to reach 49 million tons.
In the same month, its coal output had jumped15.9% yoy to reach 279 million tons.
The statistics are historical records, according to China’s National Bureau of Statistics.
Analysts are also upbeat. Hong Kong-based OSK analyst Helen Lau believes the utilization rate of China's steel sector has returned 2007 levels, according to a Reuters report published last Friday.
Abterra currently owns 15% in Zuoquan Yongxing (its first coalmine investment), which is booked as an “available for sale investment”, and this will only boost group earnings when it pays dividends.
Its acquisition of 49% in Taixing Jiaozhong was completed on 29 May. As the second coalmine investment will be counted as a subsidiary, the management is excited about the unit’s impending boost to group revenues, especially when approval is obtained to raise annual production capacity by 6-fold to 900,000 metric tons.
The company plans to acquire more coal and iron ore resources.
MEDIA RELEASE – FOR IMMEDIATE RELEASE
Abterra to benefit from rising coking coal prices
Reuters reported that China paid for a shipment of coking coal at a price higher than the benchmark price, which could transform the global market for the key steel-making ingredient Group to increase production capacity of its Jiao Zhong coal mine to 900,000 tons by 2011 to cater to the anticipated demandSingapore and Hong Kong, 30 June 2009
In a Reuters article
Mr Gerard McCloskey of the McCloskey Group during a coal industry conference said, "We have just heard of a spot sale from Australia to China of USD 132 per tonne which is over the benchmark price of USD 129.”
McCloskey said that paying that price shows that China is really serious and underlines their real need and the lack of availability of coking coal in China. He said: "Their steel market is going like the clappers (vigorously) and they're importing a lot more iron ore in the last two months. If it carries on, it's overwhelmingly significant,” adding it would transform the whole coking coal market.”
He added, "China is going to be a major buyer through the year and maybe indefinitely, they seem to have closed up quite a lot of production.”
– Abterra Ltd., (“Abterra”, or the “Group”), an emerging supply chain manager of resources and minerals in Asia Pacific, is likely to benefit from rising coking coal prices.1 dated 28 June 2009, it was reported that China's steel production is soaring way over estimates and the country has paid for a shipment of coking coal at a price higher than the benchmark price, which could transform the global market for the key steelmaking ingredient.Responding to this news, Mr Lau Yu, CEO of Abterra said, “We are pleased to learn about this latest news. The Group has always been positive on China’s resources industry. We are targeting to increase our Jiao Zhong Coal Mine’s annual production capacity to 900,000 tons by 2011 in anticipation of the increasing demand for the coking coal.”
Mr Lau added, “We have set ambitious targets and have the resources to deliver on those targets. The target of the Group is to continue to make strategic acquisitions of coking coal mines to grow our production capacity to 5 million tonnes per annum in the next 2-3 years.”
---- The End ---
Abterra to benefit from rising coking
coal prices
•
higher than the benchmark price, which could transform the global market
for the key steel-making ingredient
Reuters reported that China paid for a shipment of coking coal at a price•
900,000 tons by 2011 to cater to the anticipated demand
Group to increase production capacity of its Jiao Zhong coal mine toSingapore and Hong Kong, 30 June 2009
emerging supply chain manager of resources and minerals in Asia Pacific, is likely to benefit
from rising coking coal prices.
In a Reuters article
soaring way over estimates and the country has paid for a shipment of coking coal at a price
higher than the benchmark price, which could transform the global market for the key steelmaking
ingredient.
Mr Gerard McCloskey of the McCloskey Group during a coal industry conference said, "We
have just heard of a spot sale from Australia to China of USD 132 per tonne which is over
the benchmark price of USD 129.”
McCloskey said that paying that price shows that China is really serious and underlines their
real need and the lack of availability of coking coal in China. He said: "Their steel market is
going like the clappers (vigorously) and they're importing a lot more iron ore in the last two
months. If it carries on, it's overwhelmingly significant,” adding it would transform the whole
coking coal market.”
He added, "China is going to be a major buyer through the year and maybe indefinitely, they
seem to have closed up quite a lot of production.”
– Abterra Ltd., (“Abterra”, or the “Group”), an1 dated 28 June 2009, it was reported that China's steel production isAbterra Ltd.
Co. Reg. No.1 199903007C
7 Temasek Boulevard
#11-05 Suntec Tower 1
Singapore 038987
1
http://steelguru.com/news/index/2009/06/28/MTAwMTYz/China_pays_more_for_coking_coal_-_McCloskey.htmlResponding to this news, Mr Lau Yu, CEO of Abterra said, “We are pleased to learn about
this latest news. The Group has always been positive on China’s resources industry. We are
targeting to increase our Jiao Zhong Coal Mine’s annual production capacity to 900,000 tons
by 2011 in anticipation of the increasing demand for the coking coal.”
Mr Lau added, “We have set ambitious targets and have the resources to deliver on those
targets. The target of the Group is to continue to make strategic acquisitions of coking coal
mines to grow our production capacity to 5 million tonnes per annum in the next 2-3 years.”
yah, but tp of 25 cents might require a long time lol =/
Abterra should be upgraded higher than that. I think 25 cents. Coal has good prospect.
yonghow ( Date: 02-Jun-2009 11:37) Posted:
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