Most coal stocks are trading for pennies (ie ACI 35 cents and ANR 28 cents). Management of all
companies have no plan except to wait for demand and price to pick up. Not going to happen. COAL
COMPANIES THE US ARE DOOMED.
Dow up 33. Crude and natural gas up slightly. Coal stocks mostly flat. CLF at a new record low
(CLF is a NRP lessee). NRP down slightly on very low volume. Will continue to drop if
volume picks up.
Watch natural gas inventories to be reported on CNBC at 10:30. Heard this morning
on CNBC that fracking cost have dropped significantly. Would like to know what the
average cost to produce natural gas is in the US today.
Just heard on CNBC that 70,000 mining jobs have been lost in the US this year.
Gregory Boyce has appointed an EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
(see headlines). Boyce is a genius. Our new VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
will solve all of our problems.
Near record inventories for Crude and natural gas. Conversation on CNBC again today re $30 per barrel crude
and $2/bcf natural gas. Bankruptcy coming for BTU, ACI, ANR, WLT and CLF. A miss with 2nd quarter earnings expected by analysts for NRP (18 cents per unit) will take NRP units below $2.
Dow up 171. Crude crashing and natural gas is down. Most coal stocks down led by BTU.
BTU (biggest US coal company) said this morning that they will lose $80 million MORE
than analysts had expected for the second quarter. Probably means that other coal companies'
will disappoint also. NRP is giving back yesterday's gains..
Sees today's BTU trade up as a fluke caused by EPA action. Coal business
is disaster. Get out. BTU will soon trade below $1. BTU has NO leadership.
No bottom in sight for BTU or other coal company shares
Dow down 135. Big move down for crude. Natural gas up slightly.
Coal stocks at or near record lows. NRP down and trading 1
penny above record low on heavy volume. No bottom in sight.
yahoo cut me off
meant to say that all of the coal company leaders are doing nothing but
borrowing money to carry them out as far as possible while HOPPING
that coal prices will improve.. That plan is not working.
Since Wyatt Hogan took the reins, shares of NRP are down 76%. Not much
change in the coal business. Did get deeper into oil but that is still a very
small part of NRP's business. Time for Corbin Robertson to fire Hogan and
bring in an outsider. Would have to worry, of course, that Mr. Hogan might
throw his 10,000 shares of NRP stock onto the market. Might create panic
selling. Seriously, NRP needs some new blood with new ideas. All of the
coal company leaders, including Wyatt
Early today, BTU shares crashed. Came back during the day and closed
down only 1 penny. Early today NRP shares crashed. Did NOT come back
during the day. Closed 6 cents above a record low. NO BOTTOM IN SIGHT.
Will buy a few shares next week below $3.50. Ex in 25 trading days. Hope
that share price might get back to $4 before ex.
I, too, saw that the collapse of the coal stocks today is being blamed on
the coming Court decision. If you wanted to roll the dice, you could buy a few
shares of one of the coal stocks trading below 50 cents. A ruling favorable
to coal by the Court would cause the stock price of ACI or ANR to double.
James River Bankrupted in 2014. Patriot is in bankruptcy now. Most other
coal companies have borrowings that will carry them through 2017. In
the meantime these companies will continue to lose billion over the next 2 1/2 years.
There is no plan except to hope that the coal business gets better by 2018.
Coal companies will continue to bankrupt. Those that survive will continue
too see their share price drop. BTU shares will soon trade below $1. Thank
you Mr. Gregory Boyce.