<<<BTW, oil and gas is what they are looking for-- not coal. >>>
Strange --- why has MTEI, then, based most of the company worth on their coal mining projections? Also, correct me if I am wrong, but they don't actually own any oil fields yet, do they?
<<<<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.>>>>
If they were really sitting on a $100 million coal profit... shouldn't they "look for it"?
What did Jack say about the $11-15 per ton projected mining cost, which sounds ridiculously low when compared to other companies? Or wasn't this question asked? |
