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Damn, SCC hasn't dropped enough yet. My GTC buy order not hit.
Looks like the NYSE and European markets are holding up. Even the European banks are up today. Damn, c'mon Greece, blow up; China, stop saying you will lend to Italy ( just because you have good food, China, and the Italians do too.)
Australia coal miners resume strike as talks fail
Melbourne: BHP Billiton Ltd's coal miners in Australia went back on strike after failing to agree on pay and work conditions with management, further disrupting operations at the largest coal exporter.
"Strikes are continuing and now we are considering an escalation," Stephen Smyth, a division president at the Construction, Forestry, Mining and Energy Union in Queensland, said.
Stoppages that disrupted operations at the three BHP Billiton Mitsubishi Alliance mines on September 10 will continue until at least today, Smyth said. The action may be extended to BMA's four other mines, pending a member vote later this week, he said.
About 3,500 coal miners have taken part in rolling work stoppages that began in June, the first in a decade at BHP's Australian coal mines, after they rejected BHP's initial offer for a new contract.
Posted on October 02, 2011 09:20:28 PM
Semirara to use methane from coal beds in Antique
SEMIRARA MINING Corp. plans to harness methane emissions from the coal bed of its Antique mine to fuel a seven-megawatt (MW) power plant, the company said in a statement.
“We are talking to someone already for the project,” Semirara Mining Vice-Chairman Isidro A. Consunji said in the statement.
The project is estimated to cost about $14 million and will be developed with Endesa Carbono S.L. of Spain.
This was after Semirara signed a memorandum of agreement with Endesa in 2009 to implement the Clean Development Mechanism coal bed methane project at the Semirara mine.
Endesa will design, install and maintain a coal mine gas extraction system while Semirara will construct a pipeline to take the gas to a power plant.
The plant is likely to be commissioned sometime next year.
http://www.bworldonline.com/content.php ... e&id=39260
Semirara Rises in Manila After Deutsche Bank Boosts Rating
By Bloomberg News
Oct. 14 (Bloomberg) -- Semirara Mining Corp. advanced to the highest in more than three weeks in Manila trading after Deutsche Bank AG raised the stock’s rating to “buy” from “hold” with a 12-month share-price estimate of 225 pesos.
Semirara increased 2 percent to 206 pesos as of 10:32 a.m. local time, heading for the highest close since Sept. 21. The stock surged as much as 4.5 percent.
http://www.bloomberg.com/apps/news?pid= ... othFK8hv98
they already bought kasi... doits first downgraded this to 205... fell to 161... ok lang.. never believe doits... its the biggest bank that will be hit by the haircuts and it is being targeted by the shorters... they would probably be selling all the way up to 225
scc breached the 50DMA last friday and almost kissed the 200DMA from below. will it be successful tomoro and breach 211.33?
will wait na lang muna before i buy bak my barya shares i sold @179 (kept postponing the buybak until it came to this )
great trades! good times!
Holding firms, power and mining deemed ‘good buys’
http://business.inquirer.net/25615/hold ... s%E2%80%99
Semirara Mining net income surges 147%
Consunji firm’s earnings hit P3.21B in first 9 mon
By Amy R. Remo
Philippine Daily Inquirer
First Posted 23:02:00 11/14/2010
Filed Under: Company Information, Earnings, business, Mining and quarrying
MANILA, Phiklippines?Semirara Mining Corp. of the Consunji family reported a 147-percent surge in its consolidated net income after tax to P3.21 billion as of end-September, due to record sales of coal in both the local and international markets.
In a filing with the Philippine Stock Exchange, Semirara said that its consolidated revenue in the first three quarters also jumped by 83 percent to P16.9 billion, of which P9.46 billion came from its coal segment while P7.43 billion was contributed by its power segment.
Net coal production in the first three quarters of the year rose by 60 percent to 5.09 million metric tons as of end-September from a year-ago level of 3.17 million MT, due to the importation of additional mining equipment which, in turn, increased the company?s annual excavating capacity.
According to Semirara, strong global coal demand enabled the company to sell all its coal stock. Sales reached a record high of 5.09 million MT since the company breached export markets in 2007. Ending coal inventory closed at 702,087 MT.
?Indicating the continued success of the company?s marketing efforts to introduce Semirara coal to the global market, export sales accounted for the largest market share at 52 percent, with total volume sold of 2.65 million MT in the first nine months, up by 66 percent from last year?s 1.6 million MT,? the company further reported.
Local sales also registered a 37-percent hike to 2.44 million MT?up from year-ago level of 1.78 million MT. Market share of domestic buyers likewise inched up to 48 percent compared with the 37 percent recorded last year.
Meanwhile, Semirara noted that the forward integration into the power business with the acquisition of the 600-megawatt coal-fired power facilities in Calaca, Batangas, in 2009, created more value for the company. This coal plant was previously owned by the government through the National Power Corp.
In the first nine months of the year, the company?s power business generated a total of 1,395 gigawatt-hours (gWh).
Revisiting this SCC thread, I noticed that my Nov 15 post was in error. I copied the news article on 9M2010 results and not 9M2011 that are both in my files. Like GMA, "I am sorry"...but at least am relieved that posted news article carried a date.
Anyways, my current thoughts on SCC are as follows:
Like its mother company, DMC, I observed that SCC had a spike in price with volume last Friday. It closed though at 213 that was lower than its day's high of 213.40. Closing price is still within its range movements in the past few weeks ...206-214.
I have kept a position on this stock for a couple of weeks now with AEP 208. Looking forward to a favorable market environment this week...and with DMC now indicating bullishness, I think there is strong probability for such bullishness to rub on to SCC for it to finally break through resistance at 220.
we really have to thank citisec and its researchers/analyts for putting out good jedi-mind trick materials tho im thinking of opening an online account also with wealth soon. i heard they also have sharp and byutyus analysts
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