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Canada's Coal boom

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Goldsource Mines Sparks Saskatchewan Coal Frenzy


It’s all a bit reminiscent of Diamond Field Resources’ discovery of the giant Voisey Bay nickel deposit in Labrador back in the 1990s, when the original target was diamonds. This time round, tiny Canadian-listed Goldsource Mines


Goldsource, which was trading at C$0.30 per share on 22nd April when the company reported that drilling had been suspended on its Cowan Lake, Crossroads and Border properties in central and eastern Saskatchewan due to spring holidays. At that stage out of a permitted 22 holes had been drilled. None of those holes hit the targeted kimberlite but two holes drilled 1.6 kilometres apart on the Border property did cut a coal seam that showed a thickness of 25 metres from one hole and 35 metres from the other, both intersections about 80 metres down hole.


The news of the discovery of this previously unknown prospective coal district started a speculative frenzy, partly driven on because the project has road access and is only about 5 kilometres from a rail line. A total of 47 coal samples were submitted for analysis but initial descriptions of the coal have indicated that it isn’t lignite, the low margin coal that makes up the bulk of Saskatchewan’s coal production. There are currently three operations located in the southern part of the province.

. . .

Clearly it’s early days, and Goldsource currently has a market value of about C$72 million on the back of two coal intercepts that appear to have non-coking characteristics, encountered 80 metres below the surface and located in an extremely distant area about 50 kilometres north of Hudson Bay, Saskatchewan. That said, it did not take long for the opportunistic bunch on Canada’s junior bourse to catch a ride on the Goldsource coal train by making applications for coal permits in the area of Goldsource’s find. Leading the area play charge was Swift Resources, and Swift was followed by Saturn Minerals, Gold Star Resources, and Canasia Industries. To give you an idea of the trading action in this play, in the first three trading sessions after Saturn announced it had made its coal application, over 39 million shares traded and their value jumped from C$0.27 to as high as C$0.58 from around C$0.27. That’s a huge feat given that the company has only 30.8 million shares outstanding.


Full story... on : http://www.Minesite.com


// not only Canada //


Coal Is The New Black Gold For Kalimantan Gold


Kalimantan Gold has just signed a contract to explore for coal in Indonesia. Given that the name of the company suggests it’s looking for gold and not coal, Minews wondered if the company might be changing its name. Chief

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The Opportunity


Axxxxx Finance Corp. has a new opportunity for members of our investor network.


Axxxxx Finance has secured the opportunity to place up to ....


(edit out, as requested)



This may or may not be a good opportunity - and I am not sure that I am comfortable with the advert.


All I can say is, be very careful about investing at the height of a mania.

I have strated taking profits now on my own coal shares

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I m not sure coal's run has run out of steam yet. Sorry for the pun.


I ve tried to find a easy place to find the spot price of coal. There are no obvious places on the internet apart from commodity contract dealers.


If you google "oil price" there are a number of sites that show it. Spreadbet companies for a start do not display coal prices


Doing the same "coal price" search does not come up with any obvious results. I can name two sites only I ve found through other people on ADVFN. One is quote.com, the other is globalcoal.com


There is no coal ETF, there is no mention on bloomberg eitherhttp://www.bloomberg.com/markets/commodities/cfutures.html


I m bullish on coal, for the reason it is a overlooked market, that follows oil prices.


1. the UK energy usage comes from about 30% coal


2. we import coal - a fall in £, and a rise shipping costs are bullish signs


3. a mine - one of the worlds major souces of coal in austrialia was flooded, it is thought mining won't continue for some time http://www.bloomberg.com/apps/news?pid=new...id=arAQBwHkHzJQ


4. coal at todays prices is now only becoming economical to mine - UKCoal has recently started to post profits in the last couple of years, after nearly a decade of making huge losses year after year.

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