BUT THEY DID STATE HOW MUCH IT WOULD COST TO GET IT OUT OF THE GROUND!!! AND I HAVE CONFIRMED THESE FIGURES WITH THE WEST VIRGINIA COAL ASSOCIATION!!!
Sorry about the Yelling...but this is getting Ridiculous!!
ANYBODY SEE THE STATEMENT BELOW??? "COST OF MINING AND TRANSPORTATION"
Lee
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. The U.S.G.S. estimates also indicate
in excess of 2 billion cubic feet of coal methane gas. This gas
currently sells in excess of $3.00/MCF 1000 cubic feet. In most
cases this gas is subject to an alternate fuel tax credit in
excess of $3 MCF, for an estimated value of $5/MCF valued at
$10,000,000. This translates to approximately $2.85 per share. |
