RE: RE: RE: I added another 10% to my holdings atI agree with you Ark but several promises have now been broken. Client contracts were supposed to be announced mid may. Results on the longwall mining potential were supposed to be released which would have really pushed up the price according to analysts. Going back to their history in 2007 they also were VERY excited about a mine prospect and then the news stopped TOTALLY. If you look at the mine itself, the product is there. What good is it if the people running the operation are not open to shareholders and break promises left and right? I will be the first one to say that most businesses have start up problems but when your forecast is for 1MM tonnes and then drop to 350K and management offers NO EXPLANATION and no explanation on why contracts have not been signed or news from longwall study, that really leaves a bad taste in my mouth. I am also afraid of the mine going in production and coal price will have dropped significantly. If you have years of market experience you very well know that a 60 or 70% drop in commodities when the global economy is cooling off as it is now, is not unusual.
Unfortunately the risk (management, markets, US growth, China cooling, Europe debt crisis not going away) is far more greater than a payoff.
Cline is still on my radar BUT I need to be convinced of managements capabilities first and need to some at least some good news about global economy.
JMHO.
JK