RE: no worries guy's - Talked to IR"One more thing when the first 15k of coal is shipped out to the purchaser we should get a NR to inform shareholders of this because they can't with hold this information because it's against the rules of the exchange."
bobby1231
That is not a true statement. Does that mean that every time ANY company makes money they must report it to the exchange - that’s a load of cow paddies. There would be millions of separate income statements pouring into the exchange. Companies need only provide quarterly financial statements.
I had a good conversation with IR the other day and they provided me with the following insights:
1. They are not releasing any production numbers mainly to prevent a negative impact on their current negotiations with future mining contracts and purchases. The less the bidders know of their current profit margins and production numbers the less likely they will try to raise there per ton bids.
2. Secondly the production from mine 1 will not be significant from December to current. Remember this is a small mine. With 3 augers running they will have a more consistent flow of coal.
3. The permits are still at the government, they are waiting just like us. Can't hurry the government and don't want to piss them off.
4. Drilling is ongoing; they had some delays because of extremely wet weather.
5. Mine 2 and 3 will be the real money makes and as soon as the permits are in place they should have the mine up and running within a couple of weeks. As mentioned above they are finalizing the contracts right now and equipment has already been secured.
6. They hinted at that there are other things in the works that no one knows about that will be exciting and that we should expect a news release next week (not sure if they meant for this new things or for the current projects). Stampede