I still go back to coal mining in KY/WV/PA is big business - a small time player like GLER/Modern Coal would require a miracle to obtain something like what they have announced.
At one time I wanted to believe in GLER because they were working in areas that I am very familiar with. I wanted to believe they were going to do what they said they were going to do; however, nothing transpired. The deals fell through.
I would love to be proven wrong because it is a company supposedly working on deals in areas that I am very familiar with but I do not see anything concrete as of yet.
Modern Coal cannot possibly be a major player in the coal industry of the area they are trying to play in which means they cannot compete with the major corporations that do hold the mineral rights. Most people on this board have yet to understand that the coal industry is big business in this area!
In regards to Samuel Coal property - why is this not listed with the state of Kentucky? Fine, maybe it is listed under another name but why was that name not used?
In regards to the bank name and the Letter of Credit - why did they not mention the bank name? As of right now GLER has NO MONEY - they have a letter stating they can have money if the proper conditions are met!
In regards to the international coal purchaser - why did they not mention the name?
This is all easy enough to explain - the 8K was worded very well! It has convinced many people that GLER is a legitimate company with a HUGE contract that has a major purchaser for the product AND by the way they also have money now! The facts have all been covered by nodummy already and I don't think they can be disputed at all.
As far as making money with GLER - it is absolutely possible! There is no way I would ever say that making money is not possible with GLER because I have seen it happen about once a month so far; however, what I will say is IMO I would NEVER hold this long! Get in, get out!
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