RE: Can CMK hit 52 week high this yearI don't think CMK will get to the 52 week high it hit almost a year ago, just as yet, even if the mine is producing very soon. The reasons being New ELk will be starting off production at around 500 000 tons annual production and going to 3 million in 3 years or so (have to see the cost side of the equation as well when they are in production), also price of coal has gone down 60% from last year (this price has to reverse and go back up when new contracts come due in march 2010), and finally you can have very attractive assets, and demand for your product, but if the management is not doing it's job and slacking off than the market get's nervous (need strong and transparent management team).
So IMO all these things have to be addressed before CLINE can move to that 52 week high and beyond. This does not mean that CLINE cannot go to at least half of the 52 week high of say around 1.25-1.50.
I personally think CLINE has turned the corner, is holding up reasonably well at these support levels, and should begin to trend higher slowly as the market get's more comfortable and less nervous with the issues mentioned above!