bad news for thermal coal everywhere, page-40

Hi Profess,

Wish I had more to report but my sources no longer have a connection with CPL. I do know that Gene was not fired and that he actually stayed longer than expected. He was suppose to be done at the end of the 2011.

I still can't help but think that BHP is going to make an all cash offer for CPL. I read somewhere that BHP likes to buy low cost/long life mines. That is the business model that has made them so successful. We definitely fall in that category. If you look at a NR BHP had in May, they have raised $2 billion EUROS to be used for general corprate prupose. That would be about $2.6 billion USD (very close to $4.00/share). This would also explain why financing has been pushed back to the 2nd half of 2012 as it would not be needed if BHP bought us out. This is just my thought, I could be and probably am wrong. Financing could also be delayed until coal prices/demand returns.

One thing is for sure, thermal coal is not going away anytime soon. All commodities have their ups and downs. We are currently in down time for sure but a very hot asian summer should help coal demand in the short term. The sky is not falling, we will see over $2/share again and probably alot higher should we see a sale or financing. This project has way too many positives to be ignored by the big boys and alot of the coal is still yet to be proven. IMHO, be patient and you will be rewarded.

Danash, thanks for your input on the shorts. I had already thanked Profess in a post just before yours and did not want waste the readers time reading more thank-you posts.

Time stop watching the SP daily, sit back and enjoy the short Canadian summer along with a beer or 2 or 9.

GLTA

JGo