Professor has it wrongCambrian just bought Coal International which is not consistent with the Prof's steps.
Having bulked up with Coal International, the merger with Cline is neither necessary and if it did happen, it could not now be a 1 to 1 share swap.
I am glad that I sold out and bought HLB. It is going to re-open the Crossville coking coal mine at 600,000 tons per year, has a potential buyer for the Bingay Creek coking coal asset, and is near to an agreement to develop its huge Wapiti mine which will add another 1.5 million tons per year.
It makes more sense for WTN or GCE to take over HLB, as those would then add substantial thermal coal to their coking coal assets.