Even though this is not the right time in the commodities cycle, believiing coal to rebound in the back half of 2012, the most prudent thing to do, for shareholders, is to put the company up for sale. Mr. Bates does not have the experience operating a mine and willfully admits this publicly.
If the process to solicit potential buyers has not already begun, it should begin soonest, and we could see this transaction closing by the end of October.