Just to let you guys know why the price was weak over the last two days. I have accounts at three margin lenders and the one where I have the most RIV is in major trouble with its bankers. Yesterday morning I got a call at 5 to 10 that all my lending ratios were going from 70% to 0%. With RIV 85% to 90% of my holdings I was given a day to liquidate or refinance. I sold reluctantly but steadily yesterday and thought I could refinance but this morning that fell through. Call it stress or panic if you like but I asked my broker to see if he could find buyers for 2 million shares at $7. It took 45 minutes for 3 fund managers to snap them up (he only sent emails to these 3) when we offered them at $7. To say that I was relieved is an understatement as I'm now able to get a divorce from that margin lender. The interesting point is that the buying was sitting out there ready to snap up that quantity of stock when offered. I've still got plenty of shares that owe me nothing and will be back in the market when my situation settles down. I've agreed with Billy Gatess all along with this stock (started buying at 23 cents) and have not changed my view. There's probably over 10 billion tonnes of coal and that makes it worth well north of $10 bill market cap or $50/share. With the SA conference and visit by several fund managers to the site starting in a little over a week, buying should return big time as has happened in the past whenever these dudes have a good look at the asset.
RIV Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
