RE: RE: RE: CMK defying gravity again To be honest I was hoping it was going below 0.50 when it hit 0.56, and only bought 25k at 0.60 thinking it was going to go lower and waited, but that did not happen! Nonetheless, took large position from range of 0.60 to 0.90...bought before in the low 2.00 and high 1.00 range Good thing averaged down and having cost below 1.00 now....Hoping this turns out to be WTN when everyone had given up on it in late 2007.......The lows of CMK may have been reached!
Feel better in holding CMK now than say a few weeks ago....I think smart money is coming back in again and general met. coal players should begin to turn....some are below the 2008/2009 levels.....I think the markets may have way over done the selling in the met. coal space!
In terms of CMK, it is a good company with great asset base, but management is lacking skills in executing the strategy in terms of production and obtaining potential customers....I would really like to know from management the cost per ton of producing coal...this is the only important factor other than reserves and annual output that really determines the value of the company IMO!!!