Wednesday, May 20, 2009
When Will The Coal Market Rebound
Mountianeer Enterprises once again received more bad new. At the beginning of this week I was told by one of my truck drivers that a Foreman where I was selling my AML coal informed him that Thursday, May 21, would be our last day. I contacted the man I broker my coal through and he wasn't aware of any such cut off but said he would check into it. Well yesterday the same truck driver said that now he was told we could ship coal through May 31. We'll this was confirmed by my broker yesterday evening. This is actually only 3 more days than originally thought. The plant don't take coal on Fridays and Monday the 25th is a Holiday so all I gained was 3 days. I actually sell my coal, I pretty sure, for less than the buyer can produce it themselves. But they don't want to purchase outside coal while they have mines of their own shut down. I understand what their thinking. This doesn't help my situation however. A year ago I had a couple of different companies begging me to produce more and painted such a good picture that I have now put myself between a rock and a hard spot. I'll get into more details on that later. See Ya.
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