Kentucky Energy (fka QMIN)

[avinanyc]

Re Gwenco's Bankruptcy-Gwenco is QMNM's wholly owned sub
The BK spells out what must happen for Gwenco to come out of BK and QMNM to stay in business. From the BK filing: “The following chart represents the estimated cost of operations for Gwenco: [All costs are per ton] Mining Cost White Star Mining LLC (includes labor and supplies) $32.00 Trucking and handling $5.00 Reclamation & Maintenance $0.10 Insurance GL and Equip $0.15 Estimated maximum royalties (8%) $6.96 Electric $0.70 Belt & Structure / Infrastructure $3.00 Admin / Bk / Accountant / Lawyer $2.00 Federal Black lung $1.10 Ky Severence $3.91 OSM $0.15 Engineering $0.50 Operating reserve $2.43 Total Cost $58.00 Any sales price of approximately $70.00 or above per clean ton provides the means for performing the plan. Current market prices suggest sales prices of at least $70.00 or more for the Pond Creek Seam coal per ton for the foreseeable future.”
Sentiment : Strong Buy

http://joegoog23.blogspot.com/2008/07/re-gwencos-bankruptcy-gwenco-is-qmnms.html