Contura Sale of 2 Wyoming Mines Unlikely to Ease Powder River Basin’s Low-Price Problem

first_img FacebookTwitterLinkedInEmailPrint分享SNL:Coal prices in the Powder River Basin are low, and the recent sale of Contura Energy Inc.’s two mines in the region is unlikely to change that, according to analysts.Seaport Global Securities LLC analysts Mark Levin and Nathan Martin estimated in a Dec. 18 note that about 93 million tons of PRB coal had yet to be priced at the end of the third quarter — about 26% of total production in the region.“We think this is one major reason why PRB production will likely come in lower than flat in 2018,” they said. “Moreover, with so much coal yet to be priced, we are beginning to believe that absent a big move in natural gas prices and/or a very cold rest of December through February, PRB producers will put out 2018 volume guidance in late January/early February that is well below flat YOY.”The analysts called Contura’s decision to sell its Eagle Butte and Belle Ayr mines to Blackjewel LLC “a good one, maybe even a great one,” noting the move reduces Contura’s balance sheet asset retirement obligation from $200 million to $83 million, frees up $25 million in unrestricted cash, create significant income tax deductions, provides $50 million in royalty payments and reduces capital expenditures by $10 million to $12 million.However, the move will not likely help prices in the PRB.More: Western coal faces declining output, stagnant pricing despite Contura mine sale Contura Sale of 2 Wyoming Mines Unlikely to Ease Powder River Basin’s Low-Price Problemlast_img read more

Ganapati reaches company milestone with Class 4 Malta licence

first_img StumbleUpon TVBET passes GLI test for five live games in Malta and Italy August 25, 2020 Submit Share Related Articles Kansspelautoriteit enters into MoU with Malta Gaming Authority August 28, 2020 Ganapati Malta can make its Japanese-themed slots available to Malta-licensed operators, after being awarded a Class 4 licence by the Malta Gaming Authority (MGA).The online-focused casino supplier, which has developed a portfolio of games including CrypBattle and She Ninja Suzu, is also going through the licensing process in the UK, with further plans to expand across regulated markets worldwide.Ganapati Malta was only launched in September of last year, as part of the Ganapati Group which focuses on developing Japanese-themed entertainment and gaming apps. The Group has offices in Tokyo, Los Angeles, London, Malta, Tallinn, and Bucharest.Mitsuya Fujimoto, CEO of Ganapati Malta and COO of the holding company, said: “Having our first licence in Malta is a milestone for the company and we are proud to be associated with Malta and the MGA. The MGA has shown efficiency and professionalism throughout the process in working with our in-house team in ensuring we met all the requirements of the application.”Richard Hogg, Director of Ganapati Malta, added: “We are pleased to have been awarded our Class 4 licence in Malta. This goes to reinforce our desire to be a distributor of top class casino games into the regulated market place. The process and subsequent successful application has ensured we can give a complete level of comfort to our clients and their customers.” Soft2Bet continues new market drive with Irokobet launch August 26, 2020 Sharelast_img read more