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Rhino Resource Partners LP Message Board

  • bigg_redd_rockett bigg_redd_rockett Feb 16, 2013 1:42 PM Flag

    Well my RNO investment has went from good to bad to good again and now bad again.

    Seems coal just can't get out of the Obama funk. If he is not ruining the economy then he is saying things negative about coal (in between his class and racial hatred speeches) and these coal companies can't get a break. I hope the dividend is safe because the stock will crash if they have to cut it.

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    • " I hope the dividend is safe"

      me, too. it depends on how bad things get. rno managment and gp are on record that they will try to pay the minimum distribution of 44.5c/share on the common units if only they can. if there isn't quite enough cash in the till, but the deficit is small, i expect them to borrow in order to pay out the 44.5c in full. but if the deficit is huge, or there is actually negative cash, then all bets are off.
      two things are working in favor of sustained distribution: the new pennyrile mine has just gone online -- that will add 10mln to EBIDTA (though not necessarily to cash as they still project continuing investment for 2 more years); and the Utica shale gas co-investment with Gulfport should start generating some revenue soon; in the longer term the Utica shale leases will probably be incorporated and floated; and Wexford does floatations rather well. neither of these will likely make much of a difference at the time of the results on Feb 28, though.

      Sentiment: Hold