Summary seemed good...he said they were working on the equip. when he got there but also coal was coming out, so that pretty much removes any doubt they're actually producing. Definitely want to see the size of the coal pile as well as know how they are transporting it (i.e. dump truck --> rail I assume)...of course, if they're continually transporting I guess the size of the pile wouldn't be that big?!
500 tons/day right now @ $40 profit/ton would be $20,000 profit/day. I think he's off with the profit number, but he said that included everything including royalties & washing the coal at outside plant.
Then they both say full production in 2 weeks (1500-2000) so $60,000 - $80,000 profit/day if he's correct.
I didn't understand the whole 30 day BK thing as I thought the 21st was the deadline for creditors to object????
2 comments:
Summary seemed good...he said they were working on the equip. when he got there but also coal was coming out, so that pretty much removes any doubt they're actually producing. Definitely want to see the size of the coal pile as well as know how they are transporting it (i.e. dump truck --> rail I assume)...of course, if they're continually transporting I guess the size of the pile wouldn't be that big?!
500 tons/day right now @ $40 profit/ton would be $20,000 profit/day. I think he's off with the profit number, but he said that included everything including royalties & washing the coal at outside plant.
Then they both say full production in 2 weeks (1500-2000) so $60,000 - $80,000 profit/day if he's correct.
I didn't understand the whole 30 day BK thing as I thought the 21st was the deadline for creditors to object????
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