all the doomsdayers

Just wait till sentiment changes. The whole of the coal sector was smashed in 2011 and not to many companies were spared. The fundamentals for Conti are very solid and a 100-200 percentage rise from these levels can happen very very very quickly.
Consolidation in my opinion has been an opportunity for the big boys to soak up some very cheap stock. The big boys will decide when enough is enough and that time is coming very soon IMHO. Go Conti.