Buying shares is vastly different from buying the mine.
Sure, opportunistic timing of share purchases is a good strategy, especially in cyclicals and commodity related stocks. I certainly do the same from time to time. But buying a bankrupt mine is a completely different story. There is currently significant met coal production worldwide which is sufficient to meet all present demand. The wide-swings in prices is not due to supply and demand forces, but instead due to completely artificial (and temporary) Chinese Government restrictions. The prospect of a huge mine coming (back) on-line will somehow be profitable in the current environment is not very realistic.
That is why that Alberta mine went bankrupt, and also why it is unlikely that any buyer will step up and pay that much for it. It just isn't economic under current conditions.
News 
Market Data 
Discover 
