Exactly. One of Wexler's specialities is dealing in distressed companies. Wexler wants RNO to declare bankruptcy. This is just how hedge funds operate. Wexford has no fiduciary duty to RNO unit holders. Wexler is looking to make money off a RNO bankruptcy, and reorganization of any RNO assets that are of any value.
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I suspected they would eliminate the dividend. With the dividend at Zero, I think it is only a matter of time before the price per share is Zero. As I mentioned in my April 22 post, investors buy MLPs (Master Limited Partnerships) for the dividends. Without a dividend, RNO is a worthless MLP.
I don't see that happening for a while if at all. They are doing a decent job lowering their expenses. With all of the miners lowering their production it won't be long before prices start going up.
from steelfirst web site
Premium hard coking coal price up on technical reboundThe premium hard coking coal price into China rose again on Friday May 29 with deals reported at levels $1-3 higher than last week.
For Gods sake , finally some good news !!!!
For those of us living of a dividend, we could sure use a lifeline.