Tuesday, October 14, 2014

The "Value" of Coal

I've talked a bit about divestment - the idea of getting money out of fossil fuels.

Part of the reason is to make an ethical stand. But the other part is pure finance - taking money out of something that's losing value.

This chart is an example of what I'm talking about. It shows how Australia's coal companies have been losing value and dropping in share price over the past couple of years.


I'm no financial analyst, but to me they seem to past their 'best before' date.

In related news, this Saturday is Divestment Day - a day for taking money out of banks that still invest in fossil fuels.

(Of course, you could do it any day you like, but it's fun to make a special day.)

PS. I was surprised at how much these companies had collapsed in the past few years, so I checked up each company on the Australian Stock Exchange website. It's shocking stuff.

New Hope Corporation (NHC)
Whitehaven Coal (WHC)
Aquila Resources (delisted) High of $11.07 - Jan 2012 $5.85 - Sold at $3.40
Yancoal (YAL)
Cockatoo Coal (COK)
Bandanna (BND)
Carabella (delisted) High of $2.50 - Jan 2012 $1.10 - Sold at 45c
NuCoal (NCR)
MetroCoal (MTE)
Stanmore (SMR)

No comments:

Get new posts by email