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Shares are still there, express lane must be empty
Its not legally binding. Its supposed to say that, its an exit strategy if the buyer decides they do not want to go through with the deal. Like I said before, this is not a check, its a line of credit of 28 mil verifiable by a certified bank to assure the seller that real money is involved. Its all fairly simple.
If it was legally binding, it would be the buyer is obligated to follow through with the deal with no backing out. An International buyer will never agree to those terms, especially a chinese one with the culture they have.
You are the closest one to having it right as to how i explained it last nite. Its not suspicious, with a big purchase like this, wouldn't you want to see the goods first before handing over millions of dollars. You can't compare this LOC to generalized definitions you find on the internet everyone. This is a customized LOC tailored to fit the international buyer. Its got an exit strategy if the buyer decides to not buy and a bank vouching that it has 28 million ready to disburse to GLER on conditions that goods are received after the buyer approves the deal.
There's really no point of questioning the LOC right now, I would take it as a grain of salt till we hear more about the closing of the mine and the buyers site visit.
In this situation, its a letter of credit written like a contract with an exit strategy. Its also most likely an international trade, where international LOC's are handled differently.
Jessica Pink, Please PM Me when you see this
To answer your question more clearly. They put that in the contract so the buyer has an exit strategy if they decide to back out of the deal.
Contracts are legally enforceable under the terms of the contract. The terms of the contract are "This letter is not intend to create any legally binding obligations." This is simple contracts and law. Its alright if you don't understand, I'll answer any questions you have.
I suggest you read that definition again. Bank needs a confirmation of received goods before they release the funds. Its also a generalized definition, a letter of credit is a contract that can be altered or customized to fit the situation. Attorneys do this all the time to add terms and conditions pertaining to the deal at hand.
Added nvidiaforgames and sweet crude as assistants for board. Board will be popular soon. Enjoy. Feel free to update Ibox.
Not true. The letter of credit is like running a credit report on someone buying a home or car. The LOC to GLER simply meant that the buyer has the necessary funds to complete the deal if the buyer does decide to go through with buying coal from them. GLER doesn't want to entertain any offers or LOI without some kind of report of credit showing that they can afford a multi-million dollar deal. Its all fairly simple business tactics.
Its not a rocket. Never said it was. Stock movements won't occur till we close on coal mine and we hear more news relating to production. Things do need to happen first. The unknown facts will need to come out as well. I'm happy with the progress, and only time will tell.
I don't know if it'll take off like a rocket. It has a lot to prove first. It'll spike up to a nice acceptable gain at first with good revenue news. As more information comes out, it will keep going up. If it goes up like a rocket, it will fall down like a big wad of coal. Gradual increases work out better.
Coal tests are from 2010 and are about the lower eikhorn site. Look at coal tests, not loadout. Either way, GLER did their consulting work for awhile before they decided to start this soon-to-be lucrative coal business. We'll see in due time if it all works out. No harm in doubting it, I prefer to buy before the bubble, not after it starts to run like the wind.
Chroma, please take a look at the information on this site. It has locations, sample tests,etc of the mines in KY.
http://www.globalearthenergy.com/News.html
Its not LBGE
I subscribed to wallstreetgrand last nite, if it is lbge, I'll post the email, if its not, I'll let u know either way.
Abundance Coal 2006 Sentinels of Safety Award Winner Sponsored by MSHA
http://www.reliableplant.com/Read/8354/19-mining-operations-honored-as-%27sentinels-of-safety%27
Its great DD guy. I wouldn't consider your DD to be bad at all and i wouldn't consider it to be all negative towards the company. What it tells me is that its a work in progress and we don't know all the information that would help us figure out exactly where they are at progress wise. I do think not all the information you were looking for is updated online and GLER is keeping the buyer for $360 mil of coal non-disclosed at the current time. Shinhan bank is just the bank of the buyer, not the buyer. The actual buyer is making an inspection themselves. The PR below tells me GLER/Modern Coal had the samuel coal mine inspected long before they decided to acquire it.
Did you see this PR?
http://ih.advfn.com/p.php?pid=nmona&article=47369167
I think GLER is about to turn over a new leaf. I looked at past prs, nothing went as far as this is now. With regards to financing, they apparently don't need it right now from LB Tim. The biggest misunderstanding on GLER is assuming these large coal contracts are finalized deals in effect when they arn't selling coal yet. Its important to get in lowest as possible and wait for the right PRs to send this up. Closing of the mine, production of coal on the mines is next on GLERs agenda. I would also hope the mine is idle or non-producing till GENR takes full ownership. We can't jump the gun on this yet.
See, were investing on two different premises. I'm not investing into this stock as a play. I'm investing into this stock long-term. I don't play stocks based on news momentum volume plays much but Momo's and BB's forums are great for them.
This stock is more than legitimate. You need to wait to see if future events happen before calling it just a play.
Yup, Aren't we all investing in companies based on what management said? GLER will change minds and turn heads after 8-11. Company operations take time and I'll keep investing for as long as i can before the big news comes that sends this stock upward. Come back after the stock rises and I'll send you a bag of coal for Christmas on me.
Thanks browland. Yea, the guy you called is from lifecycle. He would know that information the best. thanks again for the confirmation.
Recent DD shows a great company brewing. Ignore the past DD, if the past was better, the stock would be better but its not. So as an investor, you look for events that you can anticipate will be rewarding. The events we can perceive to happen in the future for GLER are rewarding. Every investment is a risk, so why not take a risk on an investment you have PR's and filings to look at telling you what they have in store for the future.
The truth, the only truth on the future of the company is known by company management. Unless you have information from them, you won't know the truth. They aren't going to violate insider trading laws telling you anything of importance but i still recommend contacting them for Real DD and ask questions. See what they tell you.
You don't provide DD beyond the internet and personal experiences. If you truly want to find the truth, than email and call the company. Ask them questions and report back. This is how DD gets done right.
LBGE was confirmed by wallstreetnewscast.com . It just so happens the filings take time. Its not a pump. It will do great things. You'll just need to wait and be patient with it. Its been 14 business days since it was publicly confirmed for news/filings coming.
Yea, i'm not sure eitheir on how truthful they are. They were compensated 1 mil of lbge shares for promoting it. I would hope they are right. I'm giving them till end of monday next week for accuracy sinve its a short week. If we get a ticker symbol change, after todays close would make more sense for them. We will see.
Lbge and prmk have nothing to do with one another. They were both mentioned in the same newsletter but no relation.
Thats not true. Nvidia there is a link from wallstreetnewscast that came out last weekend detailing and confirming news for lbge. Scroll back for it on the board, i'll sticky it soon.
He wanted to share something with you but couldn't divulge much as its confidential. Everything is tight lipped until 8-11 or so. You could probably come to about a $40 million dollar in assets from purchased railway line, samuel coal mine and global earth natural resources 25% company share.
They are keeping everything confidential right now. The assets may have been recently acquired as well. Call him back and talk to him some more. Ask him tough questions. Call Andrew as well. Confirm with him the $40 million in assets. They are working around the clock right now, probably really busy, schedule a phone meeting if you have too.
You got out too early. You gotta be patient with this stock. Its a mid to long term stock. Right now, most things we don't know about are kept confidential or non-disclosed. Imagine the share price when they do come forward with everything. We also can't take word of mouth from an employee without looking at the other side of it. $40 million in assets might be bought from $40 million in loans/investors. The assets are great but on paper it could all balance out on the balance sheet. What we need to take this share price to the next level is revenues. It won't be long before we see an executed coal deal. 8-11 is key for this stock. Once we here the coal mine is closed on and production is underway. Coal contracts get executed. Keep a close eye on this stock ace, you can always jump back in right before 8-11.
As of right now, we don't know what contracts previously mentioned will be executed. Its best to just wait till 8/11 and we'll see what the next PR tells us. There are still many things that will need to happen before any revenue is received.
O/S changed withlove. Check out the 8-k that came out on june 20th. Its also updated on Ibox.
Thank you for the info. The $40 million in assets was never mentioned in any pr and the last financial statement does not show $40 million in assets. The assets must be recently acquired or not reported. I'm a strong believer this will be a great stock. Again, thanks for the news. 8-11-11. Its a holiday for us GLER shareholders.
Check out otcmarkets.com for the latest L2 info
http://www.otcmarkets.com/stock/LBGE/quote
Wallstreetnewscast has news confirmed for this week. Could be today or tomorrow.
http://thestockmarketwatch.com/newsletters/2011/07/01/two-stocks-making-news-prmk-lbge/
Call Andrew L. Madenberg Instead. He will talk to investors I'm told.
Ihub mistake. You can view real-time L2 at otcmarkets.com