Waiting for the closing of $10 billion dollars worth of asset sales, debt eliminated and special dividend of the rest to shareholders. Just kidding but I can dream a little.
Ultimately, it is the banksters that determine the fate of this company. They can cut debt with some sales but its still a lot of debt. NRP can pay interest and some principle and the banks could be satisfied with that. There other financing alternatives NRP could probably use to satisfy the banksters appetite further. NRP works it out with the banks is my guess.
They will takeover with the most money in a bankruptcy auction. China has pretty much eviscerated our steel and manufacturing industry. Might as well sell them our resources. It will be interesting when might Texas is employees of China. (pardon the sarcasm).
Long NRP .I'm going to bet on Texas.
Jrad is quite knowledgeable about the operating results. The only problem is he presumes to be thinking as the creditor/banker might think and in that area, his view of what has to be sold, at what price and time. I don't think jrad's expertise is financial. I think NRP has more financial flexibility as to the timing and types of transactions.
Selling off parcels of land in order to reduce debt will hopefully buy time for more favorable energy prices offering PWE more alternatives.
This is just to reduce the level of embarrassment. PWE is very likely a strong buy and all of the mud slinging by the Canada brokerage firms will lead to lots of embarrassment for very poor analysis.
Sentiment: Strong Buy
Jrad isn't privy to the FELP agreements nor who all is on the hook, etc. Devils are in unknown details that can make a difference. Of course, neither am I. We travel under a lot of blind assumptions sometimes. Jrad has every reason to be concerned about NRP. I'm long on Corby and NRP.
More often than not, most trade short and use these boards to scare people. There is no way they can provide guidance with all of the contingencies in play. Most of coal companies are in bankrtuptcy, oil assets for sale..etc. NRP is doing the responsible thing. Better to say nothing about guidance than knowingly mislead. That doesn't make it bad.
Maybe he has made a fortune shorting the stock and knew when to get out. He may be shorting something else. There are plenty of candidates.
Anyone remember Cramer being long on Linn Energy, Kinder Morgan? As Cramer always says..."They know nothing:.. also means him. They are mostly fronts/shills for trader cronies.
When there are persistent trade deficits, currencies were supposed to adjust but somehow it didn't happen. It is destroying economies and jobs. International trade can be wonderful with comparative advantage but not to the extent it destroys economies. This trade picture requires revisiting.