Until it breaks $4 CAPP producers such as JRCC cannot recover. Other producers are back in the game with gas over 3.50. JRCC turned focus to MET as a result.
JRCC needs to see NG @ 4.40 or higher, according to the last JRCC CC.
I looked at the JRCC Feb 2013 conference call and the statement by the JRCC CEO is that if natural gas is at $4.50 and not $3.50 then coal sales will be stronger.
Above $4 mmBTU, then coal will displace natural gas for electrical generation on a large scale. We are approaching this point right now.
I am pleased to see that the JRCC message board is finally focused on natural gas as the key issue with the coal industry problems.