Yesterday RNO did their earnings. Tey said something very interesting
"We continue to see an increase in inquires for our met coal, which have led to some limited spot met sales, giving us greater confidence that the met market has bottomed and is improving."
None of that will fix an incompetent management team and/or Board who continues to make bad decisions, cannot accurately project their operations and therefore has missed earnings nearly ever quarter for about 3 years and has nothing but excuses for why they continue to drive this company straight into the ground.
It is time for management to come clean about the earnings power of WLT and stop playing the "buyout" rumor mill card to keep their stock price up.
"Joy Global CEO cites 'significant destocking of commodities in key markets'
On the Q1 earnings conference call , Mike Sutherlin, President and CEO of Joy Global noted a significant destocking of commodities in key markets. The resurgence of steel production in China dropped iron ore inventories from over a 90 million-ton run rate to just 74 million tons by year-end while imports reached record levels and metallurgical coal inventories at the mills dropped from 31 to just 19 days over the same period. "