MARC HASENFUSS: HCI — tainted coal, tidy TV
I suspect HCI’s enthusiasm for coal might be waning — especially since it has more exciting ventures on the boil
Hosken Consolidated Investments (HCI) are patient long-term investors, but I get the sense that its executives are not stubborn and will exit investments when it becomes clear that value-adding efforts are being stymied.
As an HCI shareholder, I have been encouraged by the progress made in its coal mining endeavours — even though, in annual reports, it was clear that these operations are fraught with challenges. Still, I reckoned HCI had built some decent assets, and might even list an enlarged mining group on the JSE. This now looks quite unlikely, given the latest numbers from HCI Coal.