Just relax, folks. ACI is grossy undervalued using ANY metric you want.
This dip of ACI into high 5's is a buying opportunity in coal that you may not see again. You're getting a diversified coal company, with both thermal and met reserves, in both PRB and CAPP geographies, with potential for HUGE sales overseas not far off. Just sit back, and don't listen to the panic talk. You're
getting a world class coal company for less than half book, with POSITIVE operating free cash flow (i.e. it has plenty of ability to continuing weathering this downturn). ANR, ACI, JRCC are all highly volatile, and all risky, but in that risk lies huge rewards for those with some patience.
Long both ACI and JRCC.