WestMoreland is dying in front of our eyes. This coal giant, being the 6th largest producer in the states, is literally 5 feet under at this point. PENNIES FROM BEING WORTHLESS.
Currently running without a CEO and most recently announced the search has ended. On top of that they cancelled the conference call to investors.
With 19 million shares outstanding, once standing tall at over 20$, they found the light in announcing Q4 earning were going to be 3.80 per share. so woot, all except for the fact they are 1 BILLION dollars in debt. Like really? How bad do you have to mess up your commodity producing company with apparent bad futures sells to slam that final nail in the coffin?
At this price you can buy the 6th largest coal company with over 6000 employees with hundreds of millions dollars in cash flow for ONLY A COUPLE MILLION DOLLARS.
Well behold, endless possibilities. But my gut says not everyone is going to set idle . What do you think?