DALLAS, Texas 3/17/2009 12:23:10 AM
News / Finance

Technical Trade Alerts on Coal Stocks: PCX, ICO, JRCC, BTU, BHP, ACI

Beacon Equity Research announces the release of Trade Alerts covering coal stocks:  Patriot Coal Corp. (NYSE: PCX), International Coal Group Inc. (NYSE: ICO), James River Coal Co. (Nasdaq: JRCC), Peabody Energy Corp. (NYSE: BTU), BHP Billiton Ltd. (NYSE: BHP) and Arch Coal Inc. (NYSE: ACI).

 

In the Trade Alert, the author highlights Patriot Coal’s facilities receiving Mountaineer Guardian Safety Awards from the West Virginia Coal Association:

 

Patriot Coal Corp. (PCX) shares surged 8.85% today, trading at $3.32 by noon. Patriot Coal engages in the production and sale of thermal coal in the United States.  It has operations and coal reserves in Appalachia and the Illinois Basin. The company recently announced that four of its facilities have received Mountaineer Guardian Safety Awards from the West Virginia Coal Association.  Additionally, Patriot Coal's Guyan and Colony Bay surface mines each received reclamation awards from the West Virginia Coal Association.  Mountaineer Guardian Safety Awards are presented each year to mining operations that have demonstrated a commitment to operational safety.

 

The Trade Alert author also featured International Coal negotiating to amend the company's $100 million credit line:

International Coal Group Inc. (ICO) shares soared 10.45% by noon today, trading at $1.48. International Coal, through its subsidiaries, produces coal in northern and central Appalachia with a range of mid to high Btu, low to medium sulfur steam, and metallurgical coal. The company's banks have recently agreed to amend the company's $100 million credit line.   International Coal earlier anticipated it might violate various financial performance requirements of the credit line this year unless it could negotiate easier terms.  The company said its banks agreed to change unspecified terms for the remainder of 2009.  It said it currently has $26.4 million in borrowing capacity on the credit line.

 


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Beacon Equity Research
Jeff Bishop, (469)-252-3505
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