EVERYONE HATES MANAGEMENT! a little over 3 years ago the new elk mine was an old out of commission mine.
because of people like ken bates that had the vision to see a decade ago that coking coal was going to be a rare commodity, and through the use of strategic partnership and equity raising has turned this "old mine" into a brand new facility with the very best equipment, cline mining is in the position to outclipse and outclass grande cache coal in their first year of full production.
godman made a very good point. management could have mined the coal piecemeal, but instead they are gong to do it all "right" from the very beginning. they had to do it right, men and womens lives(450 workers) depend on a safe plan being implemented.
i hate where the sp is right now. i hate where the sp of 'alpha natural resources' is at the moment, and where 'patriot coal' 'walter energy are'.
but management can not be held accountable for the 'over regulation' environment that exists in the states at the moment. they can not "print" their own permits .
nor are they responsible for the nightmare that is europe or the perceived slowdown in china(even though some on this board seem to be blaming them for both)
i am hurting seeing this share price.
i don't know any of the directors or management of cmk. i have never spoken to them, even on the phone.
i just feel that they have been unfairly vilified,(i really didn't enjoy seeing the price at which they granted themselves options at) and i think over all they have done a good job developing this project.
this company is going to be sold at some point. will it be before or after the longwall is permitted?
3 million ton or 7.2 million tons?