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Natural Resource Partners LP Message Board

  • ayscuew ayscuew Nov 3, 2011 5:50 PM Flag

    Bad day!

    The $90.9 million write off caused a bigger sell off than I would have guessed. It was however almost a dollar per share. The recent ex payout probably also contributed to the share price loss today. Good news from third quarter results is that management still expects year end revenue and profit to be at the top end of analysts expectations (before the $90.9 million hit). Means that the 55 cents quarterly payout is good for at least another quarter.
    Did not know that another mine might be written off (jrand's comment). This one will cause a 40% loss in book ($7.42 to $4.45) if jrand is correct. Does book value matter for a mlp??
    Still believe we will see $25 before we see $30 again.
    Anyone know how the Deer Run mine is progressing? Supposed to open in 2012 and add 15% (8 to 10 million tons) to production. Last I heard, environmentalist were trying to block the start up.

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    • I don't pay much attention to book value, but my comment about the potential additional write off said it was $ 93 million. Last time I looked, NRP had a bit over 100 millin units outstanding, so the hit to book would be a bit less than $ 1. I doubt it could be 40% of book.

      Maybe I was unclear in my comment; I was commenting more on related party dealing than anything else.

    • We will be back over $30 very quickly. In fact I have a sell order in at $35.70 and I may pull it and raise the price. Keep the faith.

      Put a buy order on some CMO. Book value is $12.54...put it in at $11.50 GTC.


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