As of March 31, 2015, Arch had available liquidity of $1.1 billion, including cash and short-term investments of $939 million and undrawn borrowings on its credit facilities.
How much of this is cash/investments and how much is "undrawn borrowings"?
When I hears $1B in cash, I thought it was cash not undrawn borrowings.......
You are the one that said to buy ANR last week.
You learn all the big words, but still have a small brain.....
COAL IS DEAD!
That is what racing will do. This year they are spec cars. Next year they build their own cars. Whoever goes faster at a longer range wins.....
ANR has substantial upside potential?
The doom and gloomer's are wrong?
April 16'th was a good day to add to your ANR portfolio?
And a BIG $10M insurance payment for abandoned mines.....
This will be like christmas for shorts.....
Alpha has been allowed to leave about $262 million in cleanup liabilities uninsured in West Virginia under a federal program for coal companies that meet strict financial tests. State officials told Reuters the company may no longer qualify for that relief.
Coal companies are required to have insurance or cash on hand to reclaim land damaged by mining and clean up abandoned mines in the case of bankruptcy, so taxpayers won’t be stuck picking up the costs. But a federal program called “self-bonding” has allowed the most financially fit coal companies to leave a share of their total liabilities uncovered.
Self-bonding has allowed Alpha to avoid needing to have about $676 million of insurance on its mines in West Virginia and Kentucky, according to securities filings and regulators.
The filings indicate the company no longer qualifies for self-bonding.
Annual premiums to cover Alpha’s self-bonding guarantees could exceed $10 million, and a policy could come with costly strings attached.
A struggling coal company may be required to offer a large share of collateral to even qualify for a new bond, said Robert Duke, corporate counsel for the trade group.
“Losing the qualification to self-bond and turning to the corporate surety market is uncharted territory,” said Duke. “To our knowledge, the coal industry has never faced this kind of thing before.”
Alpha has warned investors that losing its right to self-bond and the increased costs of surety bonds could cut into its cash and weigh on its balance sheet.