pump and dump This was all a pump and dump.
Lots of promises about production and targets all missed. The timing was good as met coal prices were increasing at the time. This was an old mine abandoned for a reason and I doubt it will ever be mined again.
We saw the pump (a run rate of 3M tonnes by q4 2011)
We saw the dump (insiders sold sales well before the next financing and well before the 1M tonnes production in 2011 turned into 10K tonnes)
We saw the lack of shareholder respect - two "awarding" of options in a year - not just any award but in lots of 1M with immediate vesting ISSUED BELOW MARKET VALUE. We see the lack of updates (longwall study, customer contracts, production)
Now that there is no equity value to steal you will see (its already started) more raises and bonuses.
Any of this sound familiar ??
I am driving down to colorado to see if there is anyone there. I have a minivan that can hold 7 - let me know if you want to come as I cannot afford the gas because I am LONG this POS.
POOR PASTA