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James River Coal Co. Message Board

  • hdyg6033 hdyg6033 Mar 8, 2013 9:49 PM Flag

    I BOUGHT $20K OF PCX Coal and saw it go BK!

     

    Last year I decided to buy Coal stocks and I went with PCX Coal ONLY! I could have divided up 4 ways among four different stocks, including JRCC, ACI AND ANR, but decided against it and I PAID DEARLY for it!

    You never know when these guys will announce BK. You just wake up one day and it's BK!

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    • Everytime the JRCC stock rallies we see the same posts from the shorts about bankruptcy and the bond valuations.

      In 2012 JRCC bought bonds back from shareholders at a substantial discount. This was voluntary from the bond holders because they were scared after the PCX filing and unloaded the bonds out of fear.

      From a financial viewpoint, JRCC has improved the valuation of the company by reducing debt at a discount favoring stockholders versus bondholders.

    • hdyg6033, one can look at bond debt, cash on hand, and capital exp debt to determine when a company is most likely to file BK. I don't think PCX ever made a profit, and it was the junk that Peabody didn't want, so what does that tell you. I almost bought a chunk right before the BK when it went to 1 buck then went to three. I didn't buy and remember being upset with myself for missing the rally, then like three days later they filed for BK, lucky I guess.

      JRCC doesn't have to make a bond payment till 2016, we have some cash to hold us over for a year or so. Personally, I think the markets will allow gas to stay around 3.50 which will keep them burning coal through the summer.

      All this increased traffic tells me we are turning the corner, something is up.

    • I learned that lesson with Enron. Luckily I was young and did not have alot of capital.

    • That is always a possibility, but JRCC has a lot more resources to use prior to BK. PCX did not. That is the diff. GLTY

 
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