Please tell me what Boyce is doing to take profits back to an acceptable level at BTU.? He has said that he is "waiting and sitting" at this time. We have had a pretty cold winter and mining companies have had little benefit. Most mining stocks were slaughtered yesterday. At one time, BTU shares were down 6%. I hope that we get more days like yesterday. That's what it will take to give the mining CEOs a wake up call. If you think that a few bankruptcies will help BTU, remember what happened with PCX. They went under, wrote off all debt, and had BTU pay millions in employee benefits. PCX is now back in business (another symbol) alive and well. The coal business (met and thermal is sick.
Casablanca Capital has bought 5% of Cliff Natural Resources. They want to get control of the board, fire the CEO, sell assent and in general get the company turned around. Other company CEOs are sitting on their hands and waiting for the coal business to get better. Gregory Boyce said, "you can only follow the strategy of losing money and waiting and sitting for so long". Boyce is still following that strategy. I LIKE WHAT'S HAPPENING AT CLF. Hope we will see it happen at other coal companies.
Casablanca Capital has bought 5% of CLF shares and they are trying to get control of the CLF board. They want to fire the CEO, sell assets and in general get the company turned around. Other coal companies are sitting on their hands and hoping that the coal business gets better. I like what's happening to CLF. Hope it will happen in other coal companies.
The media continues to pile on. Latest just a few minutes ago on CNBCs Fast Money.. Goldman says that met coal price will drop through 2016. ANR CEO is sitting on his hands and HOPING. He is not alone ALL OF THE COAL COMPANY CEOs are doing the same. We are having a cold winter. Natural gas prices have tripled over the past few months. Thermal coal prices have done little or nothing. IF thermal coal prices do not improve and IF met coal prices drop through 2016, ANR will bankrupt. Time for ANR's CEO to take action or give the role to someone who will.. WE ARE GOING BANKRUPT, MY FRIEND!!!
Mass slaughter. Best way to describe it. If we don't get action comments from some of the coal company CEOs, I hope that we continue to see more days like today. Note comment from Gregory Boyce, CEO BTU "you can only follow the strategy of losing money and waiting and sitting so long". That is exactly what coal company CEOs are doing. Goldman says that met coal prices will continue to drop in 2015 and 2016. Many coal companies will bankrupt if that happens. We have had a cold winter. Natural gas price has tripled over just a few months. Thermal coal price has had little move. Time for coal company CEOs to take action or get out.
Hope jrad can tell us what happened with NRP shares. I like it but have no idea why the run up in price..
The mass slaughter of coal company stocks today should get the message to Coal company CEOs that their "waiting and sitting" (Gregory Boyce said that) plan is not going to work. If Goldman is correct and met coal prices will drop lower in 2015 and 2016, the "waiting and sitting" is going to bankrupt many coal companies. If we don't get some positive reactions from coal CEOs over the week end, I hope we get another mass slaughter of the coal group on Monday. I own coal shares and I am sick and tired of the ineptness being shown by the coal company CEOs. We have had a cold winter. Natural gas price has tripled over a few months. Even thermal coal prices have done little or nothing (met prices have dropped).. Boyce is going to make a nickle for his shareholders this year. He should be fired along with most of the other coal company CEOs..
Goldman put a "sell" on shares of ANR. Also slammed met coal. They think that met coal will drop in 2014 from $1.50 to $141. Expect further drops in 2015 and 2016. Oversupply and slow down in China's consumption given as reason.
Good employment news took the dow up significantly at the open. Coal and steel stocks CRASHED (BTU down 4%, WLT down 7% etc). NRP traded 35,000 shares at the open up 30 cents. Now tanking. Natural gas trading down. CSX chairman reported that coal rail shipments are picking up (Mad Money last night). Not helping. The coal companies continue to sell coal below cost.
I am neither a liar nor am I short. Pull up ANR and read the down grade. Refer to BTU's 2013 results and read the statement from Boyce.
1. ANR downgraded to "sell" by Goldman. Weak met coal market as reason. price target $4.
2. Motley Fools contributor quotes BTU Chairman, Gregory Boyce, "You can only follow the strategy of losing
money and waiting and sitting for so long". That's what most coal companies are doing now. Fools
contributor says that JRCC is already in trouble and that WLT will also be in trouble (financially) by
year end if met coal prices do not improve. Coal news gets worse every day!
1. ANR downgraded by Goldman. Price target is $4. ANR leases from NRP and is big in met coal.
2. Motley Fools quoting BTU chairman, "You can only follow the strategy of losing money and waiting and sitting for so long". That's what all of the coal companies are doing right now. Motley Fools contributor says that JRCC is already in trouble and that WLT will be in trouble (financially) by year end if met coal prices do not improve. WLT is almost a pure play in met coal. Met coal is also NRP's biggest revenue producer.
Scientists at The University of Queensland (Australia) just announced that global warming and co2 will destroy The Great Barrier Reef" (off Australian shore) if not brought in check by 2030 (major cause - coal). The Australian government just approved a massive coal port expansion. Who will win the war??
Scientists at University of Queensland (Australia) just announced that climate change and co2 will destroy The Great Barrier Reef off the coast of Australia if not brought in check by 2030. Australian Government just approved a massive coal port expansion project. Gives me a warm fuzzy feeling!