Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi MM, Following on from CRN’s announcement today, does MM remain long and bullish CRN? If MM did not hold CRN already would it buy CRN at today’s prices (say $0.90 to $0.95c)? Indeed, is MM considering topping up its existing holding? Finally, what does MM think of CRN’s various comments in today’s announcement about “extreme royalties in Queensland”, etc.? Thanks, Darren
Hi Darren,
The coal space has been a tough area over recent months although we do believe it will turn, when is the million-dollar question. Moving onto metallurgical coal producer CRN:
The change was mainly due to an abnormal amount of rain, and the deferred salable production will fall into FY25, noting CRN are a December year end. We are certainly holding our position, and with a 3% weighting, have room to add to it in time, which is our preference.
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