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seems they got company now. JPC turned not JCPQN last night...
8-K & 10-Q released Friday.
Foresight Energy LP Reports First Quarter 2020 Results
ST. LOUIS, Missouri — (BUSINESS WIRE) — May 15, 2020 — Foresight Energy LP (“Foresight” or the “Partnership”) (OTC Pink: FELPQ) today reported financial and operating results for the first quarter ended March 31, 2020.
Foresight generated quarterly coal sales revenues of $99.1 million on sales volumes of 3.2 million tons, resulting in net income of $35.7 million (which includes $85.1 million in gains on reorganization items associated with the filing under Chapter 11 of the United States Bankruptcy Code) and Adjusted EBITDA of $12.1 million. Foresight mines safely and efficiently produced 3.8 million tons during the quarter.
What the hell's going on out here !?
Noticed last 10 days or so lot of buying going on at .01 levels here...??? Watch judge throw case out when she sees the asset valuations alone here... And any hint of this CEO taking advantage of Trump's / Mnuchin's corporate loan program likewise will see him ousted by BOD I firmly believe...
12:30pm yesterday, i now see Fitch withdrew its ratings for Foresight...???
Kinds like the Dow Jones negative article about JC Penneys couple days back early 7:30am, then 7:30pm that same night, DJ printed a retraction to its previous negative article about them...???
Where do I see items 9 & 10? I just see letters
Received (2) proxy materials through TD brokerage. Were breakdown of what may or may not happen May 20th, 2020 when Federal bankruptcy judge hears this case.
Info package really, but everything up in air as to what/whom debtors are/will be, and company still can operate as normal til that time. Bankruptcy may not even be granted to proceed either.
Interesting to note the following:
Line items 9 & 10 of court filing.
Yes winn. Sad thing. Mnuchin is an idiot ! My manager went to Treasury site last night (after listening to Mnuchin) as he said transparency is listed there who got loans and what amount- nothing there...
Treasury/SBA knows who got this $$loan funds. THEY can call it bank in blink of eye and a keystroke... Our very own SBA agent told us this and said it is a crime what's been going on to small businesses, which is what this was supposed to be for... NOT IVY league colleges, major corp franchises, other large companies..
And this morning I got bad news as local Charlotte investigative reporter uncovered, here in NC, we are considered 42nd in line to even receive any amount of pre-determined loan fund amounts given to this State. So in essence, NC small businesses of every degree are screwed, and this nation is crewed, and corona only will make it worse as we go forward... All employed/working folks in NC are 50% from small business operations here...
Still holding with an average of .19 and my stack is not small! Nothing has changed for me, I read the distribution PR I’ve witnessed the DD and seen the sells to govts as well read hundreds of articles of antibody tests are a way of the future for all counties! $5.00 test or so you can see results in minutes seems like a good place to park my $, all signs pointing to a return but need the company’s help 110%
Foresight Energy LP, Inst Holders, 1Q 2020 (FELPQ)
3:39 am ET April 20, 2020 (Dow Jones)
The following table shows the largest shareholders in FORESIGHT ENERGY LP COM (FELPQ) for the quarter ended March 31, 2020, listed by holding size. The list represents up to 50 of the largest holders in the company.
Note: Unless otherwise mentioned the reporting date is 03/31/2020
Institution Shares Shares % Last
Held Changed Held Report
United Capital Financial Advis 61,344 18,013 0.076 12/31
The Rock Creek Group LP 3,443 (3,000) 0.004 12/31
Bessemer Investment Management 800 0 0.001 12/31
Barclays Capital Inc. 100 0 0.000 12/31
Morgan Stanley Investment Mana 0 (100) 0.000 12/31
Morgan Stanley Smith Barney LL 0 (81,086) 0.000 12/31
Steward Partners Investment Ad 0 (800) 0.000 12/31
DWS Investment GmbH 0 (700) 0.000 12/31
Wells Fargo Clearing Services 0 (22,487) 0.000 12/31
EP Wealth Advisors LLC 0 (13,300) 0.000 12/31
Bank of America NA (Private B 0 (5,000) 0.000 12/31
UBS Securities LLC 0 (74,495) 0.000 12/31
Lee Financial Co. LLC 0 (11,626) 0.000 12/31
Morgan Stanley & Co. LLC 0 (100) 0.000 12/31
RBC Private Counsel (USA) Inc 0 (450) 0.000 12/31
SG Americas Securities LLC 0 (158,417) 0.000 12/31
Royal Alliance Associates Inc 0 (6,585) 0.000 12/31
13F data provided by: Factset Research Systems Inc.;
Please send questions to ownership@factset.com.
Copyright, Factset Research Systems, 2020. All Rights Reserved.
(END) Dow Jones Newswires
Trump Administration yesterday rolled back Obama Era restrictions put on US coal companies, when HE & Hillary declared war on coal companies...
They still reporting business as usual with SEC...
I would agree. Management is the issue here.
(3) SEC Filings this morning. Financials, EBITDA, Employee Program.... NOT a damn bad thing in it, everything as would be expected of ANY energy company especially right now. Trump supporting all energy sectors stated yesterday in briefing, PLUS 3 weeks ago Fed Mnuchin created "special credit facility" for ALL US corps to keep ready operation cash going through all of this. FELP DOES NOT need any fkng BK. I think they NEED whole new management !!!
Foresight Energy LP Reports Full-Year and Fourth Quarter 2019 Results
ST. LOUIS, Missouri — (BUSINESS WIRE) — April 6, 2020 — Foresight Energy LP (“Foresight” or the “Partnership”) (OTC Pink: FELPQ) today reported financial and operating results for the fourth quarter and year ended December 31, 2019. Foresight generated fiscal year coal sales revenues of $834 million on sales volumes of 19.7 million tons, resulting in a net loss of $320 million, and Adjusted EBITDA of $185 million. Foresight mines safely and efficiently produced nearly 19.9 million tons during the year.
In March 2020, Foresight resumed longwall mining production at its Hillsboro complex and idled continuous mining production at its Macoupin complex.
Filing Under Chapter 11 of the United States Bankruptcy Code
On March 10, 2020, Foresight filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the “Foresight Chapter 11 Cases”) in the United States Bankruptcy Court for the Eastern District of Missouri (the “Bankruptcy Court”). For additional information on the Foresight Chapter 11 Cases, refer to Foresight’s amended Current Reports on Form 8-K filed with the Securities and Exchange Commission on March 10, 2020.
Consolidated Financial Results
Year Ended December 31, 2019 Compared to Year Ended December 31, 2018
Coal sales totaled $834.4 million for 2019 compared to $1.097 billion for 2018, representing a decrease of nearly $263.0 million, or 24%. The decrease in coal sales revenue from the prior year was due to lower coal sales volumes combined with lower coal sales realization per ton sold. Coal sales volumes for the current year were lower as compared to the prior year due primarily to lower sales volumes placed into the export market. Declining API2 pricing on export volumes resulted in lower overall coal sales realizations.
Cost of coal produced was $468.7 million for 2019 compared to nearly $527.0 million for 2018. The decrease in cost of coal produced from the prior year was due to an overall decrease in produced tons sold, offset by a higher cash cost per ton sold. The increase in cash cost per ton sold resulted primarily from reduced production at our Williamson complex during the fourth quarter in response to challenging export market conditions.
Transportation costs decreased $52.5 million as compared to the year ended December 31, 2018 due to a decrease in produced tons sold and a larger percentage of our sales going to the export market during the prior year, which have higher associated transportation and transloading costs. These decreases were slightly offset by additional transloading-related costs in the current year due to high river levels at the export facilities near New Orleans.
The decrease in selling, general and administrative expense for the year ended December 31, 2019 as compared to the year ended December 31, 2018 was primarily due to decreased sales and marketing expenses resulting from lower export sales volumes and legal expenses incurred in the prior year associated with the Hillsboro and Macoupin litigation matters settled in October of 2018.
During the year ended December 31, 2019, we recognized an aggregate impairment charge of $143.6 million related to certain long-lived assets and mineral reserves associated with our Macoupin complex. During the year ended December 31, 2018, we recognized an aggregate impairment charge of $110.7 million related to certain long-lived assets and mineral reserves associated with our Hillsboro complex.
During the year ended December 31, 2019, we recorded a reserve of $60.4 million on our financing receivables as a result of uncertainty in collection due to the Chapter 11 bankruptcy filing of Murray Energy Corporation.
In 2019, other operating (income) expense, net consisted primarily of $25.4 million in payments from insurance companies related to the final settlement of claims associated with the Hillsboro combustion event. In 2018, other operating (income) expense, net consisted of $43.0 million in payments from insurance companies offset by $25.0 million for the settlement of litigation related to the Hillsboro and Macoupin matters.
Interest expense, net for the current year was comparable to the prior year primarily as a result of lower overall outstanding principal balances on our long-term debt and longwall financing arrangements, offset by additional outstanding borrowings on our revolving credit facility.
The $7.7 million of debt restructuring costs consist of legal and financial advisor fees related to our debt restructuring efforts and the Foresight Chapter 11 Cases. We expect debt restructuring costs to continue to be substantial until such time that these issues are remediated, if at all.
Adjusted EBITDA was $185.0 million for 2019 compared to $313.6 million for 2018. The decrease in Adjusted EBITDA was due primarily to the overall decreased sales volumes and lower coal sales realization per ton in the current year.
During 2019, Foresight generated $74.8 million in cash flows from operations, had capital expenditures totaling $90.7 million, and had cash provided from financing activities of $46.1 million, consisting of additional borrowings on the Partnership’s revolving credit facility offset by the regularly scheduled final installments on the Partnership’s longwall financing arrangements and finance lease obligations.
Three Months Ended December 31, 2019 Compared to Three Months Ended December 31, 2018
Coal sales were $161.1 million for the three months ended December 31, 2019 compared to $297.0 million for the three months ended December 31, 2018. The decrease in coal sales revenue from the prior period was due decreased coal sales volumes combined with lower coal sales realization per ton sold. Coal sales volumes for the fourth quarter 2019 were lower as compared to the fourth quarter 2018 due primarily to lower sales volumes placed into the export market. Declining API2 pricing on export volumes resulted in lower overall coal sales realizations.
Cost of coal produced for the three months ended December 31, 2019 was $118.8 million compared to $135.8 million for the three months ended December 31, 2018. The decrease in cost of coal produced resulted from an overall decrease in produced tons sold during the fourth quarter 2019, offset by a higher cash cost per ton sold. The increase in cash cost per ton sold resulted primarily from reduced production at the Williamson complex during the fourth quarter 2019 in response to challenging export market conditions.
Guidance for 2020
Based on the Foresight Chapter 11 Cases and the uncertainty, social and economic, surrounding the domestic and global impact the coronavirus disease (COVID – 19) pandemic will have on our coal markets, the Partnership is not providing guidance for 2020 at this time.
I'm wondering that very same thing.
Why is this going up?
Did i miss something over the last few days? I don't see any reason for this to be at the price that it is right now, at least until after BK is done.
Where is this company's Girly man CEO at lately?? What rock is he hiding under??? He ranks right up there with Economou of DRYS, Ellison of Lowes, etc etc.. Scumbags everyone of them...
Makinezmoney, because something amiss here. How the Exec Board is doing criminal things IMHO.... With $Trillions now ready in stimulus, FELP can go to the Special Fed Credit Facility as of 2 weeks ago to remedy their situation, and not need to continue in this kooky behind-the-scenes C-11 manner- especially in the crooked manner they are trying to do, and push off the debt management created to its Shareholders of record... Someone will hurt badly here- may even die to be honest. What is going on is like some old mob movie here, and FELP Execs should be ASHAMED at themselves right now...
Question is will the Fkng SEC finally stand up for the common man they are supposed to look out for for securities fraud schemes...??? After living through and seeing what SEC did with DRYS for years, it disgusts me how criminal & crooked US securities markets have become today...
Does FELPQ get equity committee?
Does stimulus package help out FELPQ in bankruptcy case?
Robert D. Moore SEC 8-K filing last night "excerpts":::
As a result of the global outbreak of the coronavirus disease (COVID – 19) and out of an abundance of caution, certain employees of the Partnership, including financial reporting and accounting staff, have been working remotely beginning on or about March 13, 2020. As a result, the Partnership has limited access to its corporate headquarters office where certain financial data and work papers are kept, is unable to determine at this time when such access can be made safely, and is unable to complete its Annual Report on Form 10-K for the year ended December 31, 2019 in a timely manner.
Accordingly, in reliance upon the Order, the Partnership expects to file its Annual Report on Form 10-K for the year ended December 31, 2019, no later than 45 days after March 30, 2020.
The Partnership is supplementing the risk factors previously disclosed in its Annual Report on Form 10-K for the year ended December 31, 2018, filed with the Securities and Exchange Commission on February 27, 2019, and its subsequently filed Quarterly Reports on Form 10-Q with the following risk factor:
Other events beyond our control, including a global or domestic health crisis, may result in unexpected adverse operating results.
Our results could be affected in various ways by global or domestic events beyond our control. Most recently, we have considered the impacts of a coronavirus disease (COVID – 19) on our overall operations. While the full impact of this disease and the worldwide reaction to it remain unknown at this time, any widespread growth in infections, travel restrictions, quarantines, or site closures as a result of the disease could, among other things, impact the ability of our employees to perform their duties and lead to disruptions in our supply chain and transportation network. Any of these outcomes could have a material adverse effect on our business.
Hey fools! Do none of you watch news recently!!??? Feds 2 weeks ago under Mnuchin created special Credit Facility FOR ALL US corporations to use if they wish, to fund ongoing operations through this National Disaster among us. I am a small business owner and We too have opportunity ourselves under Trump Admin we NEVER had before even, and have gone that way.
One thing for sure (we have contacted SEC even), is when this is all done & gone, a new paradigm shift will have taken place, and all abusive Shortselling and naked Shortselling activities by brokerage Houses, et.al will have to be STOPPED finally for the sheer abuses that alone has had to Millions of US companies out there continually... REMEMBER simulatneously before Covid made media attention in USA and all the frenzy, Central Banks were crashing around the fkng world and yet, THEY are not telling people this, and why Covid news is being used as a convenient distraction from that so there is no run on banks from people to pull their cash out ! Why FDIC last week even made statement "There is no need for people to make large withdrawls from any bank, everything is fine" but most of you fools NEVER get all the facts nor really know what's going on out there today...
winn, I am ASKING ! Have calls into corporate and my Office Manager contacted SEC to all of this...???
Feds already have a special Credit Facility 2 weeks ago for ALL US companies who wish to use it to keep operations ongoing ! That is my point....
winn, I am ASKING ! Have calls into corporate and my Office Manager contacted SEC to all of this...???
Feds already have a special Credit Facility 2 weeks ago for ALL US companies who wish to use it to keep operations ongoing ! That is my point....
FELPQ Equity Committee?
I wonder if that was the reason for all the buying Friday?
Could make a nice move if true.
Ewww vulgarity at it’s finest shame I’m not a mod here anymore
maybe some stimulus money help?
Worth a shot?
$FELPQ: Suddenly popping here... whats going on
$0.014 just rolled onnnnnnnnnnn
GO $FELPQ
Maybe this will give the shares a chance? Who knows. Might be worth a little gamble below a penny
What’s foreskin doing about government monies !
Folks, here is last 3 news articles TD Ameritrade out out regarding FELP:
March 26, 2020
11:58 am ET
Zero-Coupon Bond Index Nears Zero Bonds
Dow Jones
March 10, 2020
7:33 am ET
Foresight Energy LP Enters Into Restructuring Support Agreement With Members Of Ad Hoc Lender Groups And Files Chapter 11 To Access $100 Million In New Financing >FELPU
Dow Jones
January 20, 2020
3:48 am ET
Foresight Energy LP, Inst Holders, 4Q 2019 (FELPU)
Dow Jones
Zero-Coupon Bond Index Nears Zero Bonds
11:58 am ET March 26, 2020 (Dow Jones)
By Sebastian Pellejero
A pillar of the 1980s leveraged-buyout boom is on the verge of extinction.
At the start of the year, just three companies remained in the ICE BofA U.S. High Yield Deferred Interest Bonds index, which tracks so-called zero-coupon corporate bonds from low-rated companies. Those are bonds that don't make regular interest payments. Instead, investors buy them at a deep discount, receiving their full face value all at once when the bonds mature.
But defaults early this year by newspaper owner McClatchy Co. and oil-and-gas firm Tapstone Energy LLC left debt from Foresight Energy LP as the sole component in the index. But St. Louis-based Foresight, which produces coal in the Illinois Basin, filed for bankruptcy just weeks ago, leaving the index with zero bonds in it at the end of month.
The demise of the zero-coupon bond index highlights the decline of a financial product that once helped fuel the leveraged-buyout boom of the 1980s, said Marty Fridson, chief investment officer at Lehmann, Livian, Fridson Advisors LLC.
During the LBO boom of 1980s Wall Street, buyers often paid for companies by selling large amounts of debt at relatively high interest rates. Zero-coupon bonds gave companies time to grow before they had to pay it back.
Now, with interest rates low, investors typically contribute much more equity to buyouts and borrow using the high-yield bond and leveraged-loan markets, which have grown to trillions of dollars over the past decade.
"The conditions that gave life to zero-coupon bonds have largely passed -- you don't have to resort to zero-coupon or payment-in-kind bonds to support the capital structure," Mr. Fridson said. "At the same time the exuberance around leveraged buyouts has tempered. People saw the dangers of excessive leverage."
Don't count out a comeback for the index or zero-coupon junk bonds, said Mr. Fridson. After shrinking to zero companies in June 1997, the ICE BofA High Yield Pay-In-Kind index, which allows companies to defer cash interest payments, grew to an all-time record of 53 in December 2013.
Other analysts are more skeptical.
"Investors demand cash flow, so zero-coupon corporate bonds have fallen out of fashion," said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC. "Anyone could issue a zero-coupon bond. It doesn't necessarily send a great signal about a company's cash-flow prospects."
yes Win, I said that last week with the Special Fed Credit System Mnuchin came out about they instituted that day forward for ALL US corporations to go to and use to stay financially solvent and healthy through the Corona thing. Why the hell these "Foreskin Execs" haven not said anything or made an SEC filing change to all this is bewildering to me. Are they really this stupid????
I am a small Business owner (construction industry), and believe me, this new stimulus with Trump Admin FINALLY cares about us forgotten small business self-employed Tradesmen; and all US banks will be required to give SBA loans to us that day, no strings or red tape, and I am going to take advantage of that !!!
Maybe a bounce if they get stimulus money??
FELPU is/was a publicly traded partnership. These have MUCH different rules attached to them. BERY complicted stuff.
They pass everything through to unit holders.
I am no expert. But did some reading.
Forgiveness/cancellation of debt gets passed to unitholders as a cash distribution. So I thimk that would be income to unit holders.
But I think in FELPU case the debt is being exchanged for mew equity SO I THINK FELPU HOLDERS WILL ESCAPE THAT. It's called COD income.
Again. I'm not an expert. Just a dope who is trying to make sense of it all.
There's still the ordinary course of business stuff that still gets passed through. And when you sell units you may get whacked with your percentage of items that show up as ordinary income.
And then there's passive losses and more rules to screw people.
A complete mess.
Foreskin executives better be doing something. The government is throwing money around to idiots like this company.
Middle class as usual gets near nothing.
Silver lining. Maybe foresight has enough masks to stave off this virus mask emergency.
Thank you all for posting your findings. I hear the frustration. There has to be an answer. I will do some research too. I’m kind of upset withTD for giving them my personal info.
Sounds pretty shady. They aren't getting anything from me! I can't bieve that is even legal.
Would a good choice to recup the losses (about 2,4k) and move on while it still can?
Rudy you sure??? Here's what TD Ameritrade now shows regarding FELP::
Share Information
FELPQ is in a share class of unit trust fund.
Float 50.1M Shares
Outstanding 146.0M
Institutions Holding Shares 4%
Held by Institutions 0.09%
From what we gathered here from SEC info, it means you are taking responsibility for stated amount of debt of that company, which that company, is showing on that form relative to your stock ownership holdings.
Criminal and wrong in my eyes and we need Class Action started here fast...
That is the very reason a BK is filed to begin with- to absolved from your corp debts/burdens... NOT put them off on your Shareholders !!!
OK, My wife tried calling corporate yesterday afternoon too like I did earlier, had to leave message with IR voicemails...
Our CPA stated the document they sent "pre-filled" required you to re-file/ammend your 2019 taxes if you did so already, but if you do sign it, and go that way, and as my wife reads K-1 description from SEC, is that you are taking responsibility for the amount of debt they state on the fkng K-1 form!
So DO NOT sign or do anything with this form. Greater legal minds need to be contacted to all of this, as I stated last week even, this Pandemic opened up a HUGE Credit Facility for all US corps to go to fast and get $$$ to keep operations afloat anyway, so FELP Execs doing this C-11 thing makes no damn sense - especially with $500 million in assets...
My wife's message to their corp offices was "how the hell can you expect any Shareholder to take responsibility for debt your Board/Execs created in poorly running your business". NO bankruptcy filing whatsoever form, calls for debt to go to Shareholders. How can they try to do this and so fast and with no normal BK processes commencing?? They had to already contacted all brokerages to know who firstly had shares too, which all adds to this mystery...
I will be anxious to hear what your CPA finds out. I’m just a regular old person. If I have to go to a tax lawyer, my husband is going to blow a rod!!! Anybody find out anything, please post.
What does this K1 mean? If I'm a partner, does that mean I get to write off millions in loses?!
Did you all see the buying at end off day yesterday. Maybe some news around the corner....
Exactly Artie ! My wife said same damn thing and scanned all docs and sent to our CPA to see too. he has many questions as well and needs to review this...
Win, look here. Here's all the Institutional Holders as well in this situation as of last post: What about them too??
SG Americas Securities LLC 158,417 (105,918) 0.196 09/30
Morgan Stanley Smith Barney LL 81,086 77,063 0.100 09/30
UBS Securities LLC 74,495 69,084 0.092 09/30
United Capital Financial Advis 43,331 0 0.053 09/30
Wells Fargo Clearing Services 22,487 1 0.028 09/30
EP Wealth Advisors LLC 13,300 13,300 0.016 09/30
Lee Financial Co. LLC 11,626 0 0.014 09/30
Royal Alliance Associates Inc 6,585 0 0.008 09/30
The Rock Creek Group LP 6,443 6,443 0.008 09/30
Bank of America NA (Private B 5,000 0 0.006 09/30
Bessemer Investment Management 800 0 0.001 09/30
DWS Investment GmbH 700 700 0.001 09/30
RBC Private Counsel (USA) Inc 450 0 0.001 09/30
Morgan Stanley Investment Mana 100 0 0.000 09/30
Barclays Capital Inc. 100 (2,927) 0.000 09/30
Morgan Stanley & Co. LLC 100 0 0.000 09/30
BNP Paribas Arbitrage SNC 0 (57,397) 0.000 09/30
Virtu Financial BD LLC 0 (18,024) 0.000 09/30
Two Sigma Securities LLC 0 (16,620) 0.000 09/30
Steward Partners Investment Ad 0 (800) 0.000 12/31
Wells Capital Management Inc. 0 (3,802) 0.000 09/30
Citigroup Global Markets Inc. 0 (231,320) 0.000 09/30
13F data provided by: Factset Research Systems Inc.;
Please send questions to ownership@factset.com.
Copyright, Factset Research Systems, 2020. All Rights Reserved.
(END) Dow Jones Newswires
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With nearly 2.1 billion tons of coal reserves, we are among the largest holders of coal reserves in the United States and our reserves can support over 75 years of production at our current production level. We operate four mining complexes in the Illinois Basin.
Two of our mining complexes use highly efficient longwall mining systems. This highly productive mining method coupled with the favorable geology of our coal has resulted in our mines being among the safest, most productive and lowest cost underground coal mines in the United States.
Contacts
Cody E. Nett
Corporate Secretary
314-932-6105
Investor.relations@foresight.com
Cody.Nett@coalsource.com
JAVELIN GLOBAL COMMODITIES
https://www.javelincommodities.com/news/new-commodities-trading-enterprise-launched
https://www.youtube.com/watch?v=kSeJWoCZXCE
11/20/2019 Article - Analyst predicts $3.00 short term - https://marketseat.info/2019/11/20/is-it-time-to-watch-stock-foresight-energy-lp-nysefelp/
https://www.sj-r.com/news/20191210/council-members-consider-extension-of-cwlp-coal-contract
Article date 12/10/2019 showing Foresight bidding for a 5 year contract worth upwards of $200 million for the city of Springfield utitlities. Competing directly with Arch Coal, but Foresight has bid $2.72 / per ton lower than Arch Coal.
Why is Foresight Energy able to bid so low?
Because we have the lowest production costs in the United States.
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