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Walter Energy, Inc. Message Board

  • happyperson_1 happyperson_1 May 23, 2013 9:14 AM Flag

    Can not see how these coal companies can stay up.

    Much of their money is made in China. Economy slowing even more there. With the cheap price of coal they have been stock piling. Of course North America turning more and more away from coal usage. Canada was nearly giving some of their coal away as companies converting to natural gas. Interest rates are low but most of the companies keep losing money. Do think that some will go bankrupt.

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    • WLT doesn't sell its MET coal to China. They don't ship in that direction. Two things you can learn today:
      1. MET - go figure out what it means.
      2. Geography lesson.
      3. Pay me for teaching you something useful.

    • happyperson...you seem to have forgotten that wlt is primarilly a metallurgical coal producer, coal that gets turned into coke...and then added as carbon to the steel making process. Thermal coal is burned for the utilities in making electricity. So companies converting to natural gas not relavent that much for wlt. It is all about the steel business and met coal demand/prices. Right now that is not looking good. The double wammy for wlt is in order to "hang on", they had to go out and refi....4 times....at higher and higher interest rates (last one at 9%), and of course pay those nagging fees when one refi's.

      So end result is yes, they may go bankrupt...that is what those analyst ratings on debt are all about. When they gave WLT a junk rating....and the interest rate reflects this....that says they have an 87% chance of going bankrupt. Does not mean it will happen...but there you have it. This is why this stock is so volatile. I see the big commodity trading partners markets are down HUGE today. Not good for WLT....not good at all.

 
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