Coal & Consumable Fuels


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. Yanzhou Coal Mining Company Limited YZCAY4355897688401,2781,5421,6592,0713,6502,9675,1437,4789,3339,3179,73010,627101,982151,228163,008200,647
2. Peabody Energy Corporation BTU2,6702,0272,7022,8293,6324,6445,2564,5756,5936,0126,8627,9748,0167,0266,7265,6384,7555,5795,6984,629
3. Arch Resources, Inc ARCH1,3921,4621,5181,4811,9752,5832,5002,4142,9842,5763,1864,2864,1593,0142,9372,5731,9742,3252,4522,294
4. Contura Energy, Inc CTRA1,5871,3621,2971,6502,0312,290
5. Alliance Resource Partners, L.P ARLP3634465185436538399681,0331,1571,2311,6101,8442,0342,2062,3012,2741,9311,7962,0031,962
6. Cameco Corporation CCJ4624404766388721,1261,5712,3172,3502,2012,1302,3382,3402,2962,0632,7542,4312,1572,0921,863
7. CONSOL Energy Inc CEIX1,7101,4081,1441,3211,4731,376
8. Enviva Partners, LP EVA180290457464543574684
9. CONSOL Coal Resources LP CCR275327327281323357333
10. Hallador Energy Company HNRG7.977.767.759.350.911.10.932770117129157141154234340281272294323
11. Natural Resource Partners L.P NRP232685121159171215292256301378379358400489371374251257
12. Centrus Energy Corp LEU1,1441,4261,4601,4171,5591,8491,9281,6152,0372,0351,6721,9181,308514418311218193210
13. Rhino Resource Partners LP RHNO420306367352278239207171219247181
14. NACCO Industries, Inc NC2,8712,6382,5482,4732,7833,1573,3493,6033,6802,3112,6803,331873933897916856105135141
15. Ur-Energy Inc URG0000000007.62294227382432
16. Paladin Energy Limited PALAF03.329511220226836741132920024912599310
17. Denison Mines Corp DNN16.030.816.8312.532.430.139.7277123791289711.1310.418.2816.5718.0916.0715.5515.55
18. Energy Fuels Inc UUUU0000000257346615531325.87
19. Southstone Minerals Limited FDGMF00013.8312.9813.2513.093.7
20. Kiewit Royalty Trust KIRY2.542.262.221.960.881.241.461.18
21. ALX Resources Corp ALXEF0000000
22. Azarga Uranium Corp AZZUF000000
23. Fission 3.0 Corp FISOF000000000
24. Fission Uranium Corp FCUUF00000000
25. Azincourt Energy Corp AZURF00000000
26. CanAlaska Uranium Ltd CVVUF0000000000000000000
27. UEX Corporation UEXCF0000000000000000.130
28. Forum Energy Metals Corp FDCFF00000000000000000000
29. Westwater Resources, Inc WWR1.080001.014.878.583118.554.67000-0.11000000
30. Mega Uranium Ltd MGAFF0000000000000000
31. Academy Metals Inc URGYF00000000000
32. Laramide Resources Ltd LMRXF0.080.170.230.270000000000.7300
33. Blue Sky Uranium Corp BKUCF000000000
34. IsoEnergy Ltd ISENF0000
35. U3O8 Corp UWEFF0000000000
36. Uranium Energy Corp UEC000000013.769.0303.0800000
37. Cypherpunk Holdings Inc KHRIF00000000.030.050000000
38. Anfield Energy Inc ANLDF00.11000000
39. NexGen Energy Ltd NXE00000000
40. Forsys Metals Corp FOSYF0.0700000000000000
41. Plateau Energy Metals Inc PLUUF00000000000
42. SouthGobi Resources Ltd SGQRF03.14368017953592416.03581211040
43. ValOre Metals Corp KVLQF00000000000
44. Uravan Minerals Inc URVNF0.220.06000000
45. Strateco Resources Inc SRSIF000.990.3000000
46. Polo Resources Limited POLJF000000000000
47. Buffalo Coal Corp FBMCF281066665516316617387590
48. BioPower Operations Corporation BOPO00000.01
49. Golden Patriot Corp GPTC00000000
50. Purepoint Uranium Group Inc PUMGF00000000
51. Xemplar Energy Corp XEPRF00000000
52. Royal Energy Resources, Inc ROYE00.280.280139437248
53. Virginia Energy Resources Inc VEGYF000000000


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. Yanzhou Coal Mining Company Limited YZCAY1.351.351.31.091.521.211.081.251.760.811.731.451.2511.041.099.61.481.081.23
2. Peabody Energy Corporation BTU0.980.980.761.331.051.281.281.130.871.440.911.141.161.010.880.960.840.841.171.020.81
3. Arch Resources, Inc ARCH1.051.051.040.981.331.310.970.971.240.861.241.350.970.720.970.880.771.181.050.94
4. Contura Energy, Inc CTRA0.860.860.951.271.231.13
5. Alliance Resource Partners, L.P ARLP1.231.231.161.051.21.281.151.071.121.061.311.151.11.081.040.990.850.931.120.98
6. Cameco Corporation CCJ0.950.951.081.341.371.291.41.481.010.940.971.110.980.91.340.880.890.970.89
7. CONSOL Energy Inc CEIX0.820.820.811.161.110.93
8. Enviva Partners, LP EVA1.611.611.581.021.171.061.19
9. CONSOL Coal Resources LP CCR1.191.1910.861.151.110.93
10. Hallador Energy Company HNRG0.970.9711.210.11.220.8529.182.581.671.11.220.91.091.521.450.830.971.081.1
11. Natural Resource Partners L.P NRP1.151.153.291.421.311.071.261.360.881.181.2510.941.121.220.761.010.671.03
12. Centrus Energy Corp LEU0.770.771.251.020.971.11.191.040.841.2610.821.150.680.390.810.740.70.881.09
13. Rhino Resource Partners LP RHNO0.730.731.20.960.790.860.860.831.281.130.73
14. NACCO Industries, Inc NC0.920.920.970.971.131.131.061.081.020.631.161.240.261.070.961.020.940.121.291.04
15. Ur-Energy Inc URGNANNANNANNANNANNANNANNANNANINF3.851.430.651.410.611.37
16. Paladin Energy Limited PALAFINFINF28.531.181.81.331.371.120.80.611.250.50.790.310
17. Denison Mines Corp DNN0.050.058.391.840.190.0574.367.91.60.641.620.750.110.940.821.090.890.971
18. Energy Fuels Inc UUUUNANNANNANNANNANNANNANINF2.930.631.330.890.571.020.18
19. Southstone Minerals Limited FDGMFNANNANNANINF0.941.020.990.28
20. Kiewit Royalty Trust KIRY0.890.890.980.880.451.41.180.81
21. ALX Resources Corp ALXEFNANNANNANNANNANNANNAN
22. Azarga Uranium Corp AZZUFNANNANNANNANNANNAN
23. Fission 3.0 Corp FISOFNANNANNANNANNANNANNANNANNAN
24. Fission Uranium Corp FCUUFNANNANNANNANNANNANNANNAN
25. Azincourt Energy Corp AZURFNANNANNANNANNANNANNANNAN
26. CanAlaska Uranium Ltd CVVUFNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNAN
27. UEX Corporation UEXCFNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANINF0
28. Forum Energy Metals Corp FDCFFNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNAN
29. Westwater Resources, Inc WWR00NANNANINF4.821.763.630.60.250NANNAN-INF0NANNANNANNANNAN
30. Mega Uranium Ltd MGAFFNANNANNANNANNANNANNANNANNANNANNANNANNANNANNANNAN
31. Academy Metals Inc URGYFNANNANNANNANNANNANNANNANNANNANNAN
32. Laramide Resources Ltd LMRXF2.282.281.351.140NANNANNANNANNANNANNANINF484.670NAN
33. Blue Sky Uranium Corp BKUCFNANNANNANNANNANNANNANNANNAN
34. IsoEnergy Ltd ISENFNANNANNANNAN
35. U3O8 Corp UWEFFNANNANNANNANNANNANNANNANNANNAN
36. Uranium Energy Corp UECNANNANNANNANNANNANNANINF0.660INF0NANNANNANNAN
37. Cypherpunk Holdings Inc KHRIFNANNANNANNANNANNANNANINF1.770NANNANNANNANNANNAN
38. Anfield Energy Inc ANLDFINFINF0NANNANNANNANNAN
39. NexGen Energy Ltd NXENANNANNANNANNANNANNANNAN
40. Forsys Metals Corp FOSYF00NANNANNANNANNANNANNANNANNANNANNANNANNAN
41. Plateau Energy Metals Inc PLUUFNANNANNANNANNANNANNANNANNANNANNAN
42. SouthGobi Resources Ltd SGQRFINFINF11.42.232.230.31.10.420.663.652.070.860
43. ValOre Metals Corp KVLQFNANNANNANNANNANNANNANNANNANNANNAN
44. Uravan Minerals Inc URVNF0.270.270.060NANNANNANNAN
45. Strateco Resources Inc SRSIFNANNANINF0.30NANNANNANNANNAN
46. Polo Resources Limited POLJFNANNANNANNANNANNANNANNANNANNANNANNAN
47. Buffalo Coal Corp FBMCF3.713.710.630.980.7912.291.051.121.030
48. BioPower Operations Corporation BOPONANNANNANNANINF
49. Golden Patriot Corp GPTCNANNANNANNANNANNANNANNAN
50. Purepoint Uranium Group Inc PUMGFNANNANNANNANNANNANNANNAN
51. Xemplar Energy Corp XEPRFNANNANNANNANNANNANNANNAN
52. Royal Energy Resources, Inc ROYEINFINF10INF3.160.57
53. Virginia Energy Resources Inc VEGYFNANNANNANNANNANNANNANNANNAN