RE: Met Coal News:Yep, this completes the rest of the fire sale that Hillsborough Management provided a couple of years ago.
HLB received a take over offer at
.45 per share, just as the coal markets were starting to turn up (GCE, WTN, CMK were all coming off their lows). After 3 months of waiting for a 'board decision' and an 'indepent valuation report'... the 'valuation report' said that HLB assets were worth from
.45 to
.80 per share !!
So, the offer was sweetened to
.50 per share and HLB took it !!! Can you imagine that ? Us coal shareholders could see that 2 years in the future, Met Coal would be worth much, much more. HLB hit $2.00 in the last coal cycle a few years ago, this time around it could have easily hit $4 or $5.00, and they let it go for
.50
Shareholders got robbed.
Hang onto your CMK. Don't get shaken out. This will all blow over, look ahead 1 year in time. Sept - Dec is the time to accumulate stocks. Sell in May and go away... buy again in the last quarter.
SD