I’ve just heard about the disaster at Pike River coal mine on the West Coast. [Updated] 29 miners are trapped about 1500m below ground by a massive explosion. Five have made it out with moderate injuries. Obviously, there’s big concern for the lives of the missing workers. More details as they come – our thoughts are with their families.
Now my mate who called me up knows the community down there well and he was pretty upset by the article on Stuff, which says:
“Pike River Coal’s Australian-listed shares dropped sharply when the news broke, losing as much as 15 per cent of their value. At 5.37pm NZT the Australian shares were down A9c, or 12.7 per cent, at A62 cents.
The news broke just before the New Zealand stock exchange closed, and the shares ended the day down 4.35 percent, or 4c, at 88c. “
To which my mate replies: “GO FUCK YOURSELVES.”
We can only hope that the miners will all be found safe and unharmed.
And we can only be aghast that the first thing Stuff asks is ‘what’s happened to the share price?’