It’s a tricky business forecasting profits and things like this don’t help.
A couple of months ago, New World Resources, one of those eastern European mining companies that floated in London over the past couple of years, told the market that due to the “strength” of its customer relationships it had managed to “commit and price 100%” of its expected production of thermal and coking coal for 2009. Read more
A Czech coal producer looks set to become the latest mining company to list on the London Stock Exchange, with plans to raise at least €1bn ($1.57bn) to fund new mines in Poland and Ukraine.
Netherlands-based New World Resources is likely to enter the FTSE 100 index later this year if its listing is successful, as analysts have estimated that its market cap will be at least €4bn. Read more
1Bernanke weighs in on robot wars; brings Keynes for backup
2Secret liquidity and Scottish independence
3Spain's awful unemployment
4S&P 2,100, by Goldman Sachs
5Pump up, debase
Show more6Buyback to enrich
7Collateral crunch-counting gets sophisticated
8Everlasting credit, the long view
9Apple Operations International, facts (?) du jour
10In which the FTSE puts the crisis behind it
Show fewer