here's some possible good news...........but I guess it's all speculation, as it doesn't look to have had an effect on the stock. I posted as much of the article that would fit and used google translate.
"Mechel" find Chinese partners at the Elga deposit
In the spring of 2014, Prime Minister Arkady Dvorkovich urged Chinese companies to consider the opportunity to participate in various projects of Russian energy and coal sectors. In particular, he offers to take part in the development of the Elga coal deposit " Mechel " .
"Mechel" will not give Elga deposit →
October 29 Ministry of Energy of Russia and China have made and signed a roadmap for cooperation in the field of coal, said the Ministry of Energy. The document notes that the company " Mechel "has agreed with China Shenhua Energy Company " explore the possibility "of joint development of the Elga coal deposit, writes " Interfax ".
Interlocutor " Vedomosti ", familiar with the document said that " Mechel "and Shenhua has signed a nondisclosure agreement and determine which items are ready to cooperate. Further information source did not disclose. The representative of " Mechel "flatly refused to comment on the situation, contact a representative of Shenhua currently not possible. Source " Sheets "in one of the contracting parties " Mechel "believes that most likely Shenhua intends buying large quantities of coal from Elga prepaid.
In addition, Shenhua interested in developing Omsukchan coalfield, construction of transport infrastructure in the Magadan region , together with the Eastern mining company.
In the road map and the project included " Rostec "with Shenhua on development Ogodzhinsky field, and the project En + Group on Zashulanskomu coal deposit. According to the map , Sberbank , EBV , as well as China Development Bank plans to develop a mechanism for crediting projects included in the road map.
*KREMLIN AIDE SAYS MECHEL MGMT NOT REACTING TO PROPOSALS: IFX
+ ...Mechel BK effects being contained
Russia’s Mechel’s possible bankruptcy not to hurt Elga project
MOSCOW, Oct 28 (PRIME) -- Possible bankruptcy of debt ridden metals and mining group Mechel will not stop the development of its Elga coal project in the Far East, Far Eastern Development Minister Alexander Galushka told reporters Tuesday.
“Mechel’s project has acquired a new quality thanks to the construction of the railway line, which provides a link to a very good coal deposit. It is an objective basis to ensure that the project stays,” Galushka said, referring to the Elga coal deposit and the Ulak-Elga railroad, constructed by Mechel.
"Mechel OAO carry a Zacks Rank #2". 10-24-2014
"I like messing with peoples heads a bit when given the chance."
try wearing a short skirt, or you fat?
Gazprom has given their $1.8 Billion of MTL debt a free ride into 2015.
$MTL will receive $1.9 Billion for the sale of their 321-kilometer Ulak-Elga railway system, as the deal has recently received financial guarantees from the Russian government.
So, with $3.7 Billion of the $8.6 Billion of outstanding debt, to be extended or settled, it would be in the best interest of VTB and Sberbank to drop their law suits (which would produce pennies on the dollar) and give $MTL time to pay them 100% instead.
Keep in mind that $MTL has produced $1.421 billion more in net income in the first 1/2 of 2014 than in comparison to that of 1H 2013.
All the right moves are being made, they will survive. Be patient.
prob not they won a lawsuit today for 800+ mil that debt been on mtl books for ages, when it will be enforced so mtl can sell the assets who knows.
the rail line is technically sold, financing/banks saying it has a lien on it holding that up.
steel hitting on all fronts, just posted record production.
court in 10 days.
yeah saga just gets deeper.
It's that kind of logic that got you into trouble on the preferreds. Down around 99% from two years ago or so was it? Hold and hope isn't really a great investment strategy.
How about I give you $0.30 for 100 bags of MTL shares? For a company that generated almost $1 billion of annualized cash flow in the first six months of this year and that paid every penny of interest and principal due on its debt, I'd like to remind everyone of the famous Mark Twain quote - "reports of my death have been grossly exaggerated"! As with Mr. Twain, the reports of MTL's death will also turn out to be equally exaggerated.