After Chinese coking coal futures gained by a record 30% last week Reuters released the following statement this morning:
"Aug 23 (Reuters) - Chinese coke and coking coal futures on Monday surged by their 8% upper limit to record highs, as market rumours about a suspension of Mongolian coal imports over COVID-19 concerns fueled fears of tighter supply of the steelmaking ingredients."
There is no other company that this is more bullish for than Morien Resources (TSXV: MOX).
Most U.S. coal production comes from Wyoming and needs to be transported by rail. Despite July 2021 Cass Freight Index shipping volume only up by 0.5% from pre-COVID levels two years ago in July 2019, Cass Freight Index shipping expenditures are up by 22.7% during this same time period!
Freight shipping expenditures are up 45.4X more than shipping volume!
Click here to read about how the Donkin Coking Coal Mine has its own brand new haul road to take coking coal directly to the nearby deep water port! MOX's 2%-4% gross production royalty in Donkin is in our opinion worth many times more than MOX's current enterprise value!
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