RE: .04-.06 range or can it see .065 today Very surprising to see the shares at 6 cents, as opposed to the 2 cent value put on them.
The debt load will go down to $40 million once the $25 million is converted to shares at dirt cheap prices....The real question is why did Portpool back out???? They were getting over 61% of the company for merely $35 million and change.....did the coal they tested from New Elk was very poor, and has no market, or the coal outlook according to their analysis is not favorable, and/or the cost of shipping very high out of the US.......There could also be the fact the Bates and Co. did not want to depart from Cline..........once Portpool had control, but I doubt it!
VERY POOR management and no coal sales may as well be the death of the company if not taken care of very soon!!!! It is very hard to believe that they cannot even land a short term coal deal....something is very wrong with the coal that Cline has.....it is not met., but rather thermal instead IMO.....