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Seeking Alpha a, <br />Peabody Energy Is The Next Coal Company To Go Bankrupt <br />Jan. 28, 2016 1:05 AM ET48 comments <br />by: David Desjardins <br />Summary <br />• The unsecured bonds are trading at around 8.6 cents on the dollar. <br />The gross profit figure is barely sufficient to cover the interest expenses. <br />The firm is burning cash quarter over quarter. <br />Peabody Energy (NYSE:BTU) is the world's largest private coal company. The coal miner has majority interests in 26 coal <br />operations located throughout all major coal producing regions in the United States and Australia. Moreover, it owns the <br />North Antelope Rochelle mine located Wyoming. It is the largest coal mine. This one single mine produces approximately <br />12% of the America's coal. On a daily basis, 21 trains composed of 132 cars each are filled with the coal produced from the <br />North Antelope Rochelle mine. <br />(Source) <br />In my opinion, Peabody Energy owns the best coal mines in the world. Moreover, it is probably the most diversified player in <br />the U.S with its operations in Australia. The problem does not reside in these aspects. The problem is its overleveraged <br />balance sheet. The decent operating margin is dilapidated by the expenses associated with the debt load. In my opinion, the <br />