For $4MM I would buy it. Wouldn't mine it though, until coal prices go back up, which nobody knows when that will be. In addition to the the $4MM, you probably need another $2MM for equipment upgrades.
Would need to evaluate the mining staff. I know Blackburn knows what he is doing, but not sure with Hampton/Whitestar.
Further, once coal prices rose, I wouldn't be trucking all the way over to Hamden. I would lease one or two portable wash plants and thus only truck clean coal. Also, would go to the rail.