Mine Data Here is some info, interpet anyway you want:
The below is the data on the wash plant. Mines need to report quarterly to MSHA. Unfortunately, they have not updated for the first quarter of this year. What it shows is no coal was washed through 2011. Any saleable coal would be washed. So the shipment they made was probably for tests. New quarterly data should be posted soon.
https://www.msha.gov/drs/ASP/MineAction70002.asp
Now in terms of coal mined, I believe this has been posted previously. Only 17k tons through 2011. Once again, updated numbers should be posted soon.
https://www.msha.gov/drs/ASP/MineAction70002.asp
Now in terms of past quarter production, someone with more knowledge can advise, whether this link represents total production. My understanding is that these are sample (cassettes) which are taken specifically to determine compliance with cost dust levels. The red numbers indicate a failed test.
https://www.msha.gov/drs/ASP/MineAction.asp
Further, again with limited knowledge, it is highly unusual to have dust violations in the early stage of development/limited production. Obviously correctable.
With the fear of beating a dead horse, contracts are the primary issue. Many majors have idled met coal mines, usually those with the highest operating costs, due to a decrease in demand. This bodes ill for Cline as their coal is marginal met, which will sell easily in a tight or strong met market, but some of this may go thermal.
Having said all that, people I know in coal business say it is a nice mine, great wash plant etc. My question is whether Cline can properly develop it and secure contracts, I like someone else believe that another round of financing will need to be done this year, despite taking down the remaining $25MM of debt financing.