Westgold Resources and Yancoal to join ASX 200 and 300 indexes amid market shifts
Westgold Resources (ASX:WGX) and Yancoal (ASX:YAL) are set to be included in the ASX 200 and 300 indexes, as three formerly high-profile stocks were dropped.
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Yancoal profit plummets amid coal price slump
The slump in global coal prices has again caught up with Yancoal Australia (ASX:YAL), the big Chinese-controlled thermal and soft coking coal miner and exporter.
Read MoreYancoal Australia faces 25% revenue drop
Despite solid production and sales performance for the six months ending in June, Yancoal Australia (ASX:YAL) is facing a 25% revenue decline due to weaker global prices.
Read MoreYancoal survives coal price drop
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 MoreCoal slump hits Whitehaven and Yancoal hard
The 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 MoreMarket All Fired Up over Coal Stocks
More 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 MoreCoal Space Rolling on, Rolling in it
Whitehaven 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 Parent Bid Dies of Natural Causes
Yancoal 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 MorePositives Aplenty in Yancoal Result
Yancoal 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 MoreGlencore Finally Tips Out Yancoal Stake
Commodities 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 MoreLa Niña Dampens Yancoal’s Spirits
Wet 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 MoreQueensland’s New Coal Royalty Program
Despite 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 MoreYancoal Says No Thanks to Lowball Bid
A 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 MoreIntrigue Surrounds Mop-Up Offer for Yancoal
Majority 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 MoreCoal Sector Aglow with Selling and Speculation
Investors 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 MoreIs There Value In Unloved Coal Stocks?
In adversity lies opportunity and some deep-pocketed investors have recognised that, like the Stone Age, the era of coal won’t end overnight.
Read MoreYancoal Pays Down Debt Pile
In 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 MoreYancoal Minorities Win
The 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 MoreYancoal Bailout An Effective Privatisation
The 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 MoreYancoal Privatisation Cancelled By Yanzhou
The 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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