Seeking Alpha: Peabody Energy Looks For A Better Mix To Drive A Better Outcome

While it's U.S. peers like Arch Coal (ACI), James River Coal (JRCC), and Alpha Natural Resources (ANR) groan under the strain of less competitive Appalachian thermal and met coal assets, Peabody Energy (BTU) has neither. Peabody long ago got out of the Appalachian coal business and instead now offers relatively competitive thermal assets in the Powder River and Illinois Basins and met assets in Australian. Though these are far from fat times for Peabody, the company's asset mix, cost structure, and debt maturity schedule give it one of the stronger operating profiles today.

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Peabody Energy Looks For A Better Mix To Drive A Better Outcome

Seeking Alpha: New World Resources Fighting Hard To Keep A Recovery In Play

It doesn't matter if you look at U.S.-only miners like Arch Coal (ACI) or James River (JRCC), international miners like Rio Tinto (RIO) and Peabody (BTU), or European miners like Mechel (MTL) and New World Resources (OTC:NWFFF) (NWR.L), there is a whole lot of pain in the sector as companies struggle with low prices and particularly in the met coal world.

The largest miner in the Czech Republic and one of the largest in Europe, New World is scrambling to cut costs and rationalize production in order to stem losses and cash burn in the midst of difficult pricing. I believe the company's moves will keep them in the game for at least a little while longer, but it's going to take met coal prices above $160 per tonne for New World to make it. With that, New World is not a particularly interesting idea if you buy the current sell-side expectations for met coal prices during 2014-2018, but should met coal prices go another run to $180 or higher, these shares will likely do very well.

While these shares technically have a U.S. ticker , that is for all intents and purposes a dead listing. The best practical way these shares is to own those traded on the LSE (the NWR.L), though shares do trade in Prague and Warsaw as well.

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New World Resources Fighting Hard To Keep A Recovery In Play

Seeking Alpha: James River Coal Fighting A Losing Battle With Time

Cold weather and higher natural gas prices have arrived in force, but it may be too little too late for James River Coal (JRCC) and its investors. This Appalachian coal company has made under-appreciated strides in lowering its production cost base and rationalizing production levels to prevailing prices, but it may not be enough. With liquidity running thin and coal prices still short of where they need to be, James River is going to have to pull a rabbit or two out of its hat to maintain enough liquidity to see any benefit from a 2015/2016 recovery in coal prices.

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James River Coal Fighting A Losing Battle With Time