RE: RE: News Let's have a look at the assets at New Elk. As far as I could remember, the Marret bonds are secured ONLY with the assets of New Elk.
They blew some $75 mil. at the wash plant. Nothing to recover on that.
They bought 10 CMs at $1 mil. each. Given the dire situation of the mining industry on the whole at the present moment, perhaps they can get $500k each for the CMs?
Also, remember that Cline bought New Elk for $16mil.
Now with $65 mil. owed to the bondholders, do you think that they want to force a liquidation?