PT 2 BigPaulBunyan from Stockhouse

Sorry i forgot to check spelling on last post..forgive me
Eugene.
Talked with Eugene for about 20 minutes, which was great.. he was very helpful and i tired to really press him on certain issues but he remaine very vague.
On BK people still have approx 30 days to disapprove the BK plan. If all ok deal it will be approx 30 more days to get passed by the Judge. If not approved then he has another 30 days to come up with a new plan. ( he did tell me that trying to come right out of BK protection was not out of the question, could be a real possibility)
Convertible Debnutures, he really did not say much at all about it. I am not sure if he fully knows.. so no real help.
Re mine inspections, said that during rehab they were there almost everyday, not they come roughly once a week.
Re productuion and contracts. Reiteraited what Everette had said approx 2 weeks for full production, that what they are producing now, is covering Pond Creek expenses. Logan is giving them $10/tonne more on the origianl contract, and they want all the coal at Pond Creek, but he did not go into any detail about further pricing and or contract with them. Once thing both he and Everette said was that allot of people did not want them to start the mine..All the big players want all teh coal so they can set the prices..But they are real happy they suceeded.
Re Cedar grove and others. Basically said the same as Everette regarding Cedar. Sounds to me like he wants to open 4-5 mines though( we talked a bit about investment opportunities outside of the stock market, he took my business card and said there would be some. ) I would think if he is really aggressive about opening up a few mines they would need some more funds as monies coming in over the next while would not be sufficent)
I beleive any production form these others will not be going to Logan though, maybe India and has talked to others but would not specify.
Re shares outstaning. He said there is apporx 700 million outstanding, but i caqnt see where he is getting that number.
Re cost. It iscosting Quest $56.00 /Tonne Whicj includes shipping washing Etc, so i beleive profit on tjhe first contract is between $40-$44/tonne.
Well i am getting tired, will try to post pictures tomorrow, and if you have further questions just in box me, or we can arrange to talk onthe phone.My mission was to go to Kentucky make sure this is the real deal so that i may put a bit more money into it and not have to look at ths everyday, to feel confident that my investment is the right one.I feel confident that we will be trading quite a bit higher by years end and into next spring. Cant really put a valuation on this till we get finacials but if he comes though with ( lowball figure of 3 cents per share earning with shares trading at 5 times earnings then we should be at 15 cents..( i think this is low)
The only thing that would bother me is this is basically a one man show and there is no real accountability but from my conversation with Eugene he wants to see shareholder value grow.
Take care all