Friday, April 08, 2011 2:46:26 PM
IMO - Another scam co.
A--First -came "dead coal mine from early 1990s. Closed because price too low to mine - now coal is at price worth bringing the mine back to life.
B - The promise of coal coming
C - Then - needed the work to bring it up to standards
D - Private investors fleeced enough to get some substandard equipment in and "pictures" of coal coming out.
E - More funds from private investors and an R/S to update equipemnts,"coal soon to come roaring out".
---then belt broke and needed new equipment. Ran for part of one year - low ash but high sulfur or high sulfur low ash etc.etc.
F - Now mine closed for I don't know how many months.
No activity from management or EC - Word is he is trying to sell to another coal operation and is leasing oil wells in area.
Something tells me he had lunch with AEB down at the Outback Steak House
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