RE: RE: RE: RE: RE: RE: NEWS............... Rollins is a good guy, made money on wall street, then got involved with National Coal. National Coal was publicly traded that had mines in App. In fact, I think some of their ops were in Tenn., so he is familar with the mining conditions of Rex. National Coal had half their operations foreclosed on by banks, the other half went into bankruptcy and was sold.
Frankly, I don't think it is an issue of getting the Rex Mine producing or Rosa back in operation, the problem is the coal market. Rosa has good coal, but it is costly to mine. Rex will produce, but there is very little market for its kind/qulaity of coal.
Look at Cline, it is sitting on 70k tons of high vol B coal it can't give away. The market is not good for first time entrants.
Unless Met demand really, really improves, this will end in disaster.
I do think the SND/NDX deal will get done. SND will drag investors into it and they will raise money. Obviously, NDX shareholders, who really had no skin in the game in the first place will get severely diluted. But it is better than being kicked to the NEX exchange and delisted.