Replies to post #16598 on Kentucky Energy (fka QMIN)

[KingofPennies]

No. QMLM has proven that unless the price of coal is much higher, this mine is not profitable to mine. Ask again in 2 years when hopefully the economy has turned around and coal prices are in-line with the market. Until then, why bother. It cost more to mine than what you get in return.

[KingofPennies]

Now, on the other hand, if the coal prices were at the levels we saw last summer, would I be a buyer of this stock? Absolutely! Go back are re-read my posts from last summer. I said time and time again, my buy in price was .0006 However, that didn't take into account what would happen to the economy.

[KingofPennies]

Now, who are these bashers you speak of? My point of view I have made clear long ago. I saw this going down down down and it did. That's because that is Eugene Wong's m.o. Anyone that didn't know this I only tried to help understand. Those that got out, lost the less. Those that held and/or averaged down got burned big time. I also always said I was a buyer in the triple zeros. But that all changed with the economy and the SEC stepping in. You still call that bashing? Unbelievable.

[Anvil]

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.

[BBMussy]

WOW! What a reaction. Didn't mean to stir up the pot.

[Pedro2004]

WPOSullivan -- you and I have been on this stock for quite a while.

We both know -- how so many people -- believed in this company.
And...these believers invested a lot of money in the old QMNM.

Behind the investors back, Eugene was issuing discounted shares to pay off debt.
The transfer agent was gagged so people could not discover the dilution.
Over 1 billion shares were diluted into the market.
And then Eugene did a reverse split right after the SEC sent Eugene a Wells Notice.

The "believers" that supported Eugene ended up losing a lot of money!