yeah, it won't help unless you got 10M or more to spend on legal fees. Remember ANR has their version of "what really happened." Do you think a judge is going to believe their version or yours?
I doubt it, 60% of their revenue came from hedges. With oil at $40, and with wells depleting faster than anticipated, you would be lucky to get half. And then in 6 months your shares get subordinated and you will get cut in half again.
No actually I like Donald Trump. Did you read my post? Positive FCF, cut debt load, cut costs, and on track to ramp production with higher quality metals.
I love everything about this company -- balance sheet, future prospects, stock price, and what produce. But most of all management is executing their plan perfectly and they under promise and over deliver.
I invested 60K originally, after today I'm down about 3 or 4K. But I'm in investor, I could care less about short term swings. Now is the time to buy when everyone hates miners. I really think management is doing a great job, and I really like the upside potential here.
Unbelievable results: Positive free cash flow, retired $54M in debt (which saves over $4M/yr in interest expensive), production costs continue to trend down, higher quality reserves coming online, and the list goes on. If CDE executives are reading this -- VERY, VERY, NICE JOB. YOU GUYS ROCK!!
I will be adding to my $60K investment this week. This is a highly competent management team.
I don't think bankruptcy court works that way. I think once the judge signs off on it, ANR is protected from all creditor and lawsuits, including angry shareholders. What finally happens is up to the bankruptcy judge.
This is interesting because, it actually states what we have been saying all along. Everything management is doing is to profit and protect the senior lendors. Given that coupons for the unsecured were in the 3 - 6% range. This might actually stick:
Objections Mount to Alpha's $692 Million Bankruptcy Loan
September 04, 2015
(c) 2015 Dow Jones & Company, Inc.
Objections are mounting to Alpha Natural Resources Inc .'s bid to obtain up to $692 million in bankruptcy financing, with the latest challenge brought by the coal mining company's unsecured creditors.
In court papers filed Thursday, the official committee of unsecured creditors in Alpha's bankruptcy case said the financing terms offer extraordinary and undeserved protections to the company's existing lenders that, if approved, would hurt its members....