ANR has $906 Million in cash according to YAHOO statistics,$4.02 BILLION in revenue and $3.22 Billion in debt
BTU has $646 million in cash, $6.6 BILLION in revenue and $6.4 billion in debt.
Meanwhile, Australia’s Department of Industry and Science has estimated that more than 60 percent of U.S. production is at risk of closing.
Which is one reason why Walter is bankrupt, unable to service its debt, why Alpha Natural is trading at 25 cents and Arch Coal at 31 cents -- and why the Aussies are partly to blame.
It doesn't seem the bankruptcy proceedings will help as it just keeps ANR and Walter Energy to keep producing both thermal and metallurgical coal. If they completed shut down and closed their doors, then that would help BTU.
$906 MILLION in cash according to YAHOO Finance $646 Million in cash
$4.02 Billion in revenue $6.6 Billion in Revenue
$3.32 Billion in debt $6.4 Billion in Debt
The challenge for coal companies is twofold. Prices for metallurgical coal -- the type used in steel-making -- have plunged to 11-year lows as China’s economy drags, battering miners’ profits. At the same time, demand for thermal coal for power plants is steadily sliding amid an abundance of shale gas and concerns about climate change.
Earlier this year, natural gas usurped coal as the biggest producer of U.S. electricity for the first time, the U.S. Energy Information Administration reported Tuesday. In April, natural gas produced 31.5 percent of the country’s electricity, while coal accounted for 30.2 percent.
All this comes as coal miners are grappling with debt loads in the billions of dollars -- the result of expansions and acquisitions made in recent years when the coal sector’s outlook seemed brighter.
Alpha Natural Resources had about $3.1 billion in long-term debt as of March 31. The Bristol, Virginia, company is now seeking a loan of up to $400 million to help it through bankruptcy should it file for chapter 11 protection in early August, the Wall Street Journal reported Thursday.
The odd thing is the number of shares INCREASED today compared to yesterday. That is what is odd.
confluence of events
by biodrift • Jul 15, 2015 12:11 PM Flag
After watching trading today, I am fairly certain that something is going to happen in the next two days. Why?
First, there is no selling volume today in July 10, 11, & 12 calls (10's are being bought). I sold 2/3 of my July 5 & 7.50 calls this morning into the rally & added to my flier position in the 11's. Second, we got the little mini raid similar to what happened last time before the data. The difference being there were far fewer shares available for borrow this morning (IB only listed 200k available). Third, I middled some big orders this am on the July 12's which would have allowed someone to roll or close w/o taking the full hit from the big buy a few days ago. There were no takers. Optimism abounds...we will see.
What high speed trading computer is manipulating this?
Could be any time.
buy before it is too late.
I doubt it. The insiders are losing 90% of their investments.