National Coal Corp. (NCOC)

[TN-KY-Coal-Watchdog]

RonnieD it is Fool's Gold to even think NCC can get refinancing. First Ranger (Centaurus, Wells Fargo, Et el) has to agree to refinance and that is a big if! Sell outstanding shares to raise money - you are kidding, right?

NCC still has millions in outstanding accounts payable, just make a few calls to some local vendors.

Now, as for "actively pursuing merger or selling the company", that ship has sailed. They had a deal with US Coal but Roling killed the deal because he wasn't to be included. I believe that he will have some criminal liability for that action.

Now, who would pay $50+ million for 2 mines and a dilapidated prep plant. If you look at their numbers the deep mine is only producing about 12,000 clean tons a month.

Everyone, is waiting to buy assets at a bankruptcy auction. I do assume that Ranger will not let it go that far and take over the operation and the biggest losers will be the stockholders.

NCC does have more cash on hand at this time than they ever have had but it will soon be gone in paying on going operating expenses. The company is 1/4 the size it was 3 years ago but the staff has not been downsized. Typical NCC mismanagement!

Thw WatchDod