The trading week ended June 15 was shortened by a national day of mourning on June 11 to honour of the passing of Cold Warrior Ronald Reagan, who was buried in Simi Valley in California following funeral services in Washington D.C. Trading action during the period was muted as the country was engulfed in a wave of memory and nostalgia for “The Gipper.” The Dow Jones Industrial average eased off 52.09 points to 10,380.52 points while the S&P 500 index slipped just 10.17 points to 1142.18.
Yanzhou Coal, China’s biggest coal exporter, took top spot on the greatest-value-change list, shooting up US$5.36 to US$53.35 as it announced that its Japanese customers had agreed to a whopping 71% price increase for the current fiscal year ending March 2005. Furthermore, Yanzhou is having to chop its overall exports by 12% this year in order to satisfy the voracious domestic appetite for coal.
Vancouver-based Diamond Discoveries was the top percentage gainer, jumping 44% to US11 on 1.4 million shares traded. The micro-cap company is active in the diamond hunt in the Torngat Mountains in northernmost Quebec, and hopes to carry out bulk sampling and core drilling on various kimberlite targets there this summer.
Apolo Gold, another company based in Vancouver but only listed on the pink sheets, grabbed the spotlight by soaring 14% to US21. In April, Apolo started producing gold and silver at its small KBU mine in Sumatra, Indonesia.
(Apolo is unrelated to Denver-based mid-tier gold producer Apollo Gold, which fell US13 to US$1.28.)
Be the first to comment on "Yanzhou’s coal a hot commodity"