RE: RE: One simple question.Thank you for pointing this out. They are not buying because they are waiting for this to drop under $1.50. Nobody believes this will happen? How come they have put out 2 NR's in the last 30 days that are basically the same fluff?
The first says they acheived commercial delivery, but gave no volumes. They just said they are on track. Then the NR the other day that says they made a deep hole, and they are "on track". Again they mention shipping out coal but again no volumes at all. You know why? Because I believe the number they have stockpiled and shipped out couldnt fill my cavity! They are burning cash here, and quickly. I believe 100% there will be another financing in 2012.
Until management is removed or someone who knows how to build a mine is brought in, this will drag for a while.
I have purchased shares this morning in TCK. Have a look at their NR this morning. They signed a longer term deal to move their Metcoal through Ridley and booked additional capacity because they anticipate big volumes in the next few years. I believe in this because they actually have coal to move. Reminds me of WTN.
The Corpus Christi deal looks like sh*t. They are paying a sizeable lease to ship what? Who the hell signs a deal for a lease like that and commit to upgrade the space but have no product running through?
Too bad because the quantity and quality resource is there. Anybody have Keith Calder's number?