1manband...it's clear that you know what you're talking about and know the met coal market well. I would argue that everything has a price (though sometimes this price can be $0 as has been the case for some met coal mines lately). With the move in the currency since the mine closed, I think the cash costs for Grand Cache mine are probably close to $100-$110/mt. With those kind of cash costs (and maybe lower if locals are willing to take a pay cut in order to get their job back), they can generate some decent cash, even with the current met coal prices. If met coal goes back to $90 again, then yeah, it was a bad idea, but i think that long-term met coal prices should be ~$135. This isn't really a huge mine anyway...they only produced 1.1 million tons the last full year of operations. I think the mine is probably worth $100-$150 MM to a buyer.
Just trying to make a few bucks.
