Straits Asia Resources (SAR): Continue the Uptrend

Straits Asia Resources (SAR) continues the uptrend after bouncing off the uptrend support at about $2.40.

CLICK HERE for previous compilation of SAR’s comments and analysis.

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  1. Marubozu

    Flood in Australia will drive up coal contract price.

    “Any producer or company with coal operations — particularly coking coal — outside of the affected areas should perform well with the rising prices,” the analysts added. That could include Indonesian coal companies, according to analysts at CIMB. Potential upside for contract price forecasts means that there’s room for consensus earnings upgrades, and “given clear growth visibility, we believe the sector is set for a further re-rating,” they said.

    Within the sector, companies that sell more on spot and index markets and that have exposure to export markets should see the most upside from price upside, the analysts said.

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  2. Marubozu

    Another catalyst for SAR stock price!

    Straits Asia Resources Limited is pleased to announce that the Minister of Forestry has issued the Principle Licence for the Northern Leases at Sebuku. The Principle Licence is the precursor to the Borrow and Use Licence and its main purpose is to confirm rights to conduct extraction of coal provided certain final conditions are met. The Principle Licence sets out the conditions and, once they are fulfilled, mining and exploration may commence in the permitted area. The Northern Leases are a key part of Straits Asia’s long-term strategy for mining its concessions at Sebuku. The area lies immediately to the North of the mine’s Tanah Putih pit and the same coal seams are continuous into the Northern Leases…

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