Dow down 130. Big move down for crude and natural gas. Coal news as follows:
1. BTU, ACI, ANR, ARLP AND NRP trading at record lows.
2. ACI exploring ways to decrease multi billion dollar debt without bankrupting. Don't know
how they can do that.
3. ANR shutting mines in Appalachia.
4. Zacks has upgraded shares of NRP from #4 sell to hold.
Agree with your comment about lack of information. Would like to know
what happens with the Patriot business now that Patriot is again in
bankruptcy. Also what happens when ACI and ANR bankrupt? Also,
they don't even mention anymore the 11 million acres of land for which
NRP has mineral rights.
Believe your $3.50 bottom for NRP's share price is about right.
As always, jrad, I appreciate your contribution to this board. Hope
you have a great Memorial Day week end.
Note comments from Marry Energy's CEO. More bankruptcies and layoffs
ahead. ANR announced more layoffs today. ALL coal company stocks
closed today within pennies of a record low. ACI, ANR, and WLT will
bankrupt soon. BTU just a little further out.
ALL of the coal stocks are now within pennies of a record low share price.
Murray Energy CEO today laid out the future, more layoffs and bankruptcies..
As a matter of fact, ANR announced more layoffs this afternoon., ACI,, ANR
And WLT will soon follow Patriot Coal into bankruptcy. BTU will not survive
either. I put NRP"s chance of survival at about 50%. Watch insider trading.
If they do not soon start to buy, means that the chance of failure.increases
It is, of course, good in that cutting coal production by any means will hopefully
someday cut supply enough to raise coals prices. It is bad in that it adds to the daily
negative coal news items (ie continued record low stock prices for most coal companies,
high inventories, Patriot bankruptcy etc). Wonder, jrad if you heard Watt Hogan's
presentation this morning. Believe he sees the coming closure of Appalachian thermal
coal mines although he does not put a date on it.
Dow down 59. Crude and natural gas down. All coal stocks down. ACI and ARLP at record lows.
Other coal stocks pennies from record low.. NRP 5 cents above record low on very light volume.
No bottom in sight.
From Wyatt Hogan's comments this morning, I believe that NRP investment
will be dead money until 2018. If they can maintain the current distribution,
however, the return is above 8%.
Am sure that Gregory Boyce is happy to get the Murray news. Now he can ship more
coal and lose even more money. BTU needs to follow the lead set by Murray. Close
more mines until coal prices move up. Should have done it years ago.
Murray Energy announced this morning that they are laying off
one forth of their workforce (1,800 employees). Murray CEO
sees bankruptcies and more layoffs coming to coal soon.
Layoffs also announced this morning by coal companies in
Alabama. And finally, US Steel announcing layoffs. Will hurt
met coal business.
NRP's Wyatt Hogan is presenting to NAPTP at 8:30 this
morning. Listen in if you can.
Murray Energy announced this morning that they are laying off one fourth
of their workforce (1,800 employees). Murray CEO sees more bankruptcies,
more layoffs, coming to coal companies soon.
Dow down 15. Crude and natural gas up about 1%. Some coal stocks up but still
trading pennies from a record low. ACI is at record low. NRP up 8 cents on low volume.
Will drop if volume picks up. Watch natural gas inventories to be reported at 10:30.
Worth mentioning: Quoting Jim Cramer on CNBC this morning, "everyone has decided
that coal must go away".
Since Wyatt Hogan took over as President & #$%$ Sept. 1, 2014, NRP share price
is down more than 70%. Reason to look for another leader in most companies. Wyatt
only owns about $50,000 worth of NRP shares. If he thinks that NRP has a future, he should
be buying with share price below $4.50. Really worries me.
Dow down 29. Coal and natural gas trading up about 1%. New record lows for BTU, ACI and ANR.
NRP trading 2 cents above another record low on lower than average volume. Will continue to
drop as volume picks up.
"Will NRP survive the coal depression"?. Zacks did not answer that question, but did maintain
their #4 sell recommendation for NRP shares. The bigger question is, how long will the
"coal depression" last? I happen to believe that it will last long enough to break almost
all of the coal companies in the US.
Should note that BTU (largest US coal company) floated a $1 billion dollar bond yielding 10%
two months ago. That bond is now selling for 80% of face. Means that you can clear more
than 35% IF BTU SURVIVES.
Do you think that we will ever again see positive coal news. Doubtful!
As expected, new low today for NRP. BTU, ACI and ANR too. Crude, natural gas and steel also crashing.
A really bad day. for energy stocks. NRP is headed lower..