RE: So much for strong close.Looks like we're tracking GXS again, which is also down. Maybe the market is expecting their next hole to come up empty. But all the rest of GXS's holes in this drilling program are to the East of what they've drilled before, and we don't have any land to the East, so it shouldn't affect us too much. Of course, if GXS announces one or two empty holes on Tuesday, it will have a negative impact on all the area plays, but it really has no impact on what SMI has in the ground. We already know the coal seam trends to the NW, and if SMI gets permits where it's trending, it should offset any bad news from GXS. And even if it doesn't, the smart ones will buy and/or hold, knowing the value that's there that is soon to be proved up--remember, getting results back from coal drilling doesn't take long, like it does with metals.
I'm expecting them to get permits all around GXS; NW, W, N, & S, and I hope they drill in all directions. NW for sure, but I wouldn't be surprised to see them hit in the S or some other direction. We know that there was coal in that basin that got moved by glaciers--who knows where it went--perhaps onto our lands. We could be sitting on more coal than GXS has--we just have to drill and find out.