May 17 2008
12:16 pm

In March 2007, Jon Nix, the former Chairman of the Company's Board of Directors, who is also the former President and CEO, sold to the current President and CEO, Daniel Roling, for $10 the fully vested option to purchase 400,000 shares of National Coal Corp. common stock at $7.00 per share until December 31, 2008.

National Coal is mining more coal and losing more money, possibly as a result of questionable management signing long term contracts to deliver coal at prices well below current market (which has tripled for some types of coal). It's killing them and it looks to me like they are trying to get environmental standards wiped out so they can strip mine Tennessee's Royal Blue State Natural Area.

The Scenic Vistas bill is crucial to protect the New River and the Big South Fork. There are now more jobs dependant on recreation in the Big South Fork than there are in coal mining, by the way.

Here's National Coal's Form 10-Q

See what you see.

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