Name ChangeIn light of the stock performance in 2011 I vote that cline change its name to De-cline mining.
Its very quiet on this once popular and busy board. Did everyone sell and move on ? Ark, Godman, Wolfhunter , what ever happened to Bored Housewife ?? Althouth I have some bashers on ignore they do not seem to be here anymore. I guess they figure at $1.70 its hard to push it down that much further.
It seems short term problems outrank long term fundamentals of this company. The stock hit $5.00 in Jan before the increase in the coal reserves. Yes start up production targets were missed (does anyone ever hit them?) and a financing was done because of these missed production targets. Yes, the company did not tell anyone that a financing was required. Why ? will everyone would sell/short and the financing price would be underwater. I was as angry as everyone else.
Coal quality expectations have not changed so that can't be the reason for the huge drop.
As many people are, I am trying to reach the right people in cline to get answers to the following questions. Does anyone know:
Continuous miners:
My understanding - 1 is working and a 2nd is about to be operational. How many are onsite, how many are operational and how many have been ordered?
Updated production targets for 2011 - Still 200,000 ???
Longwall study status ???
Expected coal pricing relative to the standard
Customer contract status
Current cash position - we will find out cash at Aug 31 but not until mid Oct when they report
What is Mitsui doing for them - they are coal marketers - are they not helping sell Cline's coal ??
Thanks
Pasta