rosehill,

Bruce had a good crystal ball for the correct guess for a PP...but "sadly"? it's not.

If the PP was done at below $2.00/s then I would agree totally. But at a $3.10/s, it's an excellent 40% premium over the share price of $2.20 last Friday (note: on Monday, it jumped some 5%...somebody knew something about the flow through?).

As, indicated by poster From_Sud, the buyer would enjoy the tax advantages under the CEE, so the effective cost for them would be equal to the current SP (see his post for the math). This is equivalent to somebody is buying 8.4 M shares @ market price, signalling a vote of confidence, as far as PRB is concerned. In addition, at a 40% premium, PRB would actually rake in $26M @ $3.10/s. Not bad a deal,... a 10% dilution is nothing for that kind of serious money.

Land deal would be expected (to spend the money) before the end of 2014 tax year (31 Dec 2014) for the buyers who resumably want to write off the whole amount for this tax year.

I am no accountant, hence I would leave the fine details to the experts. But the general picture is good.

goldhunter