RE: RE: RE: PT Barnum once said... You are correct. I did not say anything when all the buyers were jumping on the band wagon. For good reason, I kept quiet, at least to you and others here. However, others in my circle could verify my position, which has not changed since Cline came into the picture, but that is not important at this point.
Riddle me this my friend. If you were buying the entire operation, wouldn't you want to see, touch, and feel the mine, including at least a years worth of income information? Why then, as a small investor, would you sit behind the computer and buy a company with NO TRACK RECORD AT ALL? Previous financial reports clearly stated "Cline has never made money and no one should assume Cline will ever make a profit" (paraphrased)
The mine ceased production in the early 1980's. Why? The nearby longwall mine closed in 1995. Why? The railroad track to the mine was removed five years ago, or so. Why? The wash plant was built to 1980 standards and it works poorly now, even after improvements. Why?
The reserves in and around the New Elk mine are well known. Cline makes it sound as if they found coal that no one knew was there. They keep pumping reserves and stock buyers keep buying. Yet everyone knows and always has known the coal is there. Peobody, Arch, Freeport, all looked at it but because Cline had such a vast amount of knowledge about coal mining, they jumped in to grab this gem out from under the heavy hitters....hahaha
But it is all good. Win some and lose some...