PATRIOT COAL CORP (PCXCQ) research, news, and more from GeoInvesting

Company description

Thu, 22 Aug 2013 04:00:00 GMT

Patriot Coal Corporation engages in the mining, preparation, and sale of thermal and metallurgical coal with coal reserves in the Appalachia and the Illinois Basin coal regions in the eastern United States. The company sells its thermal coal primarily to electricity generators, and metallurgical coal to steel mills and independent coke producers.

Research

Mon, 26 Aug 2013 04:00:00 GMT

In our 8/23/2013 email we stated that we established a short position in shares of Patriot Coal (PCXCQ). We believe that it is a bankruptcy play where shares are worth ZERO and that the ownership of current equity will not benefit in equity that may be recovered in bankruptcy proceedings.

Here is our follow up report.

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