Don't know about east versus west coal. However, I do have an idea of what type of coal ME has.
Reserve estimates by the U.S. Geological Survey (''U.S.G.S.'') indicate in excess 10,000,000 tons bituminous coal. This low sulfur, low ash content, high BTU, clean burning currently sells for $25-$28 per ton. With cost of mining and transportation estimated at $11-$15 per ton, this will show a $10 per ton conservative net profit, (representing maximum cost to mine and minimum selling price), providing net asset value in excess of $100,000,000, with a potential of $170,000,000.
Folks, go back to the press releases. Lots of info there that some people (i.e. doom and gloomers) either forgot or refuse to believe. Assets are assets and can be sold or acquired.
Tod |
