Yancoal survives coal price drop
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The Chinese-controlled Yancoal Australia (ASX:YAL) has weathered a near-halving in the price of its main product, thermal coal, in the three months to March and still augmented its substantial cash pile.
Read MoreThe Chinese-controlled Yancoal Australia (ASX:YAL) has weathered a near-halving in the price of its main product, thermal coal, in the three months to March and still augmented its substantial cash pile.
Read MoreThe impact of the slump in global thermal coal prices has become evident in the latest quarterly reports from major coal miners and exporters, Whitehaven and Yancoal Australia.
Read MoreMore record highs for local coal miners Whitehaven and New Hope as punters sought to buy to grab extra profits for coal exports not even earned yet after the OPEC+ oil output cut.
Read MoreWhitehaven Coal shares touched record levels this week after revealing more rewards from the coal price boom for shareholders to enjoy; others in the space are doing equally well.
Read MoreYancoal Australia’s Chinese state-owned parent Yankuang Energy has quietly dropped its now vastly underpriced takeover offer for the minorities in the local coal miner.
Read MoreYancoal has confirmed earlier guidance of a massive turnaround in revenue and earnings for the six months to June as the company rode the surge in thermal coal prices to record highs.
Read MoreCommodities giant Glencore has finally managed to exit its holding in the Chinese-controlled Yancoal Australia, telling Reuters it had sold the stake into the Australian market late Wednesday.
Read MoreWet weather and Covid have forced coal miner Yancoal Australia to slash its 2022 output forecast by as much as 7 million tonnes just as it is enjoying record prices, revenues and earnings.
Read MoreDespite the new royalty structures introduced in Queensland last week, coal miners with well managed operations are still likely to obtain profitability for the foreseeable future.
Read MoreA not unexpected response from the independent directors of Chinese-controlled Yancoal Australia to a lowball offer from its parent, deeming it unreasonable in its current form.
Read MoreMajority holder Yankuang has announced it is considering a bid for Yancoal to be satisfied through the issuance of convertible bonds, at a steep discount to the current share price.
Read MoreInvestors in the local coal sector ran for the hills on Thursday with heavy falls in the share prices of a few major players and plenty of speculation about one in particular.
Read MoreIn adversity lies opportunity and some deep-pocketed investors have recognised that, like the Stone Age, the era of coal won’t end overnight.
Read MoreIn the wake of the $US2.65 billion purchase of a stake in the NSW coal assets of Rio Tinto last year, the China-controlled Yancoal Australia has hinted that it is looking at measures to improve the liquidity of its shares.
Read MoreThe Takeovers Panel has intervened to block Yancoal Australia’s (YAL) controversial recapitalisation which could see the minority 22% shareholders severely diluted if they don’t participate in a $2.3 billion share offer.
Read MoreThe level of Australian shareholder in the Chinese-controlled Yancoal Australia (YAL) will dwindle to less than 2% if a surprise $A3.2 billion recapitalisation deal, revealed yesterday, goes ahead.
Read MoreThe Federal Government did everything it could to allow Chinese group Yanzhou Coal Mining to take full control of its Australian associate, Yancoal Australia (YAL) (the old Gloucester Mining).
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