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Barchart has 1st Resistance @ $.33 and 2nd Res @ $.43. There is room to run today!! Easy 40% pop or more. New financing is shot in the arm and carries them a long way to reorganize. 13G, ownership filing, show some big players have major stakes in WLBA and won't let it go away anytime soon!! Enjoy the ride!! $$$$
https://www.barchart.com/stocks/quotes/WLBA/opinion
Hopefully, more eyes come across the news and then there will be some real fun.
No one really knows.
The other Westmore ticker ran and if we judge the potential based on that, this stock should have gone to $0.50s or so.
So, the potential seems to be here.
All we can do is wait a little and take the action we think is right.
Whatchya think happens tomorrow?
Disappointing close lol? Watch what happens tomorrow
Not complaining. Just stating that once it broke wall at .30 I didn't think it would retrace and close at .23. No need to be an a$$.
WLBA is the one that got the new $110M loan in the 8k.
https://westmoreland.com/wp-content/uploads/2018/05/8K.pdf
Bridge Loan Agreement
On May 21, 2018, Westmoreland Coal Company (the “Company”) entered into a credit agreement with members of an ad hoc group (the “Ad Hoc Group”) of the Company’s existing first lien lenders and creditors (the “Existing Secured Creditors” and such debt, the Existing Secured Debt”). The agreement will provide the Company and its subsidiaries with a new $110 million term loan, with an initial funding of $90 million and a delayed draw funding of up to an additional $20 million, secured by a first lien on substantially all U.S. and Canadian assets, including 35% of the equity in the holding company for the Company’s Canadian business not previously securing the Existing Secured Debt, and guaranteed by all of the Company’s material U.S. and Canadian subsidiaries (other than Westmoreland Resource Partners, LP, Westmoreland Resources GP, LLC and their subsidiaries), in each case, subject to customary exceptions (the “Financing”). A portion of the proceeds of the Financing have been used to refinance in full the Company’s and its subsidiaries’ existing asset-based revolving credit facilities and Westmoreland San Juan, LLC’s existing term loan facility. The remaining proceeds will be used for working capital. As part of the Financing, the Existing Secured Creditors have agreed to subordinate the liens securing the Existing Secured Debt to the liens securing the Financing. In addition, the Company and its U.S. subsidiaries have granted to the Existing Secured Creditors a lien on substantially all of their U.S. assets securing the Financing that did not previously secure the Existing Secured Debt. All of the Company’s material U.S. subsidiaries that did not previously guarantee the Existing Secured Debt, and one Canadian subsidiary, Westmoreland Canadian Investments, LP, have also provided guarantees for the Existing Secured Debt.
The ask was short lived. Everything immediately started stacking underneath. WLB was a major short play recommendation with many services while it was still on the NASDAQ. Dropping to the pinks usually does not discourage more short play. A stock like this one OTC with all these moving parts is not too common. It will be exciting to watch & see what happens.
Up almost 70%. Man, some people just like to complain eh?
Wow. Didn't see the 5 million on the ask. They almost seems like a desperate ploy to keep the pps down. I hear there are a lot of shorts here. We'll see how this plays out tomorrow.
I think it can. I honestly thought we'd see .37 or so after it demolished the wall at .30. EOD profit taking I guess.
There's a lot of horsepower tempering this one back. A 5mm+ share wall @ $.32 came up mid day and the stock never recovered.(For scale 5mm shares is equivalent to approx. 27% of O/S shares & approx. 35% of the O/S shares not held by institutional investors). Day trading then commenced below that threshold resulting in a weak close compared to early trading. Today's activity may draw more attention for the next two days. Anyway, it's good to see some positive news for this company. We will see where it goes...
Picked up some towards the end of the day.
The other Westmore ticker went up close to 200% while this closed 67% up.
Let's see if this can run past $0.30 tomorrow.
Disappointing close...
Pretty wide spread now.
.24is dip support and vwap (vol weighted ave price) should be good from here,watch for demand to build at bid .25 ,power hour may do good ,if it goes up until close ,we could have a big gapper with the way it trades,all imho, good skill to all !!!
got another 11300 at .24 ,hoping for a bounce off the vwap like it has all day
.37 is the next pivot point.
WLBA COULD BE AT 1.00-2.00 BY FRIDAY....
Wow! What a beautiful slappage of 50K at .30! This is only the beginning!
Huge OTC dollar volume. Usually a good sign it’s legit. No doubt on this one. Follow the money!!!!
Float here must be WAY lower than the OS.
No pump on this one yet.
In at 19... Definitely think we see a dollar.
KILLING IT $1.00+ & that’s not a pump target!
WLBA MIGHT BREAK $1.00+ TODAY !!!!..
Load wall at .30 forming just like the one at .21 that got blown away.
About Westmoreland Coal Company
Westmoreland Coal Company is the oldest independent coal company in the United States. Westmoreland’s coal operations include surface coal mines in the United States and Canada, underground coal mines in Ohio and New Mexico, a char production facility, and a 50% interest in an activated carbon plant. Westmoreland also owns the general partner of and a majority interest in Westmoreland Resource Partners, LP. For more information, visit www.westmoreland.com.
Media Inquiries:
Brian Schaffer
bschaffer@prosek.com
(646) 503-5971
WLBA MAY SEE $1.00+..THIS IS CRAZY UNDERVALUED $$$$..
Very seldom do you see an OTC stock that has $78.8 million in cash on hand.
Resistance at .37 and .63. Nice to see it get that far.
As long as the SS stays in the same range, definitely possible.
Agreed...but I still think this is worth a helluva lot more than .25. $1.00 is reasonable IMO.
WLBA - WMLB - Confirmed connection - just had to verify - largest independent coal company in the US. WLBA also owns general partner of and majority interest in Westmoreland Resource Partners, L.P
It's a loan tho, so doing a PPS based on its value is flawed @ $6.00. They have to pay it back in shares, which will eventually make the PPS less valuable. Good news tho
$110 million financing and 18 mil outstanding. That's over $6.00 per share. Now at .24??? Can you say undervalued?
lots of big $$$ buys, like ours !!
Picked up 40k at .21. Let's see where it goes.
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- Westmoreland Mining LLC, which through its subsidiaries operates four mining complexes in the United States,
- Prairie Mines & Royalty ULC, which operates five mining complexes in Canada,
- Westmoreland Resources, Inc., which operates the Absaloka Mine (Hardin, Montana)
- Westmoreland Kemmerer, Inc., which operates the Kemmerer Mine (Kremmerer, Wyoming), and
- Coal Valley Resources Inc., which operates the Coal Valley Mine (Edson, Aberta, Canada).
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