Colonial Coal {TSX.V: CAD} the British Columbian based metallurgical (coking) coal exploration and development company has seen increased interest in the shares due to the recent strong rise in the price of coking coal.
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Colonial Coal {TSX.V: CAD} the British Columbian based metallurgical (coking) coal exploration and development company has seen increased interest in the shares due to the recent strong rise in the price of coking coal.
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The price of coking coal fell as low as US$90 (Canadian $120 at the time) at the depths of the market, but has now rebounded strongly to around US$210, which equates to CAD $256 at today’s exchange rates.
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Colonial are based in the Peace River Basin, and FOB costs are CAD $140, so at current prices there is a huge margin, and investors seem to be catching on as recent volume has been healthy, despite the normal summer doldrums.
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