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As the author of the Briefing Note I cited below reports, the market is already factoring in the end of coal. As he says, the share price performance of the major US coal companies is down 75-92% since 2011 alone at a time when US equity markets in the same period rose 40%. Chinese coal stocks are down 50% on average over the same [period and Australian companies 50-75%. The price of thermal coal is at a 4-year low down 45%, the US electricity generation system is transiting away from coal with 5.4 GW of coal-fired capacity closed with the regulator forecasting the further closure of 60GW in the next 6 years (over a quarter of the US coal fired capacity.
These are not isolated numbers. Somebody seems to have forgotten to tell the promoters of the Gallilee project.
Peter
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