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2020-09-01_GENERAL DOCUMENTS - C1980004 (6)
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2020-09-01_GENERAL DOCUMENTS - C1980004 (6)
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Last modified
9/16/2020 8:00:22 AM
Creation date
9/1/2020 10:05:38 AM
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DRMS Permit Index
Permit No
C1980004
IBM Index Class Name
General Documents
Doc Date
9/1/2020
Doc Name Note
Case No. 20-12043 (GRH) Hopedale Mining LLC
Doc Name
Bankruptcy Notice
From
Epiq Corporate Restructuring, LLC
To
DRMS
Permit Index Doc Type
General Correspondence
Email Name
JRS
JDM
GRM
CMM
CCW
Media Type
D
Archive
No
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Case 1:20-bk-12043 Doc 281-1 Filed 08/26/20 Entered 08/26/20 10:01:13 Desc <br />Exhibit A Publications Page 5 of 35 Coal <br />Price report <br />Market Commentary ,fudge approves <br />xf Bob bob.hodge@ihsmarkit.com Rhino bidding and <br />• Industrial markets had slow half. <br />• Still playing catch-up. sate procedures <br />• Prices take a hit. By Steve Hooks, <br />• PJM coal use down. steve.hooks@ihsmarkit.com <br />"Last year we said, 'Things can't go on like this, and they didn't. They <br />Rhino Resource Partners gained <br />got worse." <br />its bankruptcy court's approval <br />Will Rogers <br />Wednesday of bidding and sale <br />procedures for "substantially <br />No doubt the industrial coal markets took a hit during the second <br />all" of its assets, which Rhino <br />quarter, but it wasn't the same type of hit the utility markets saw. <br />anticipates will be acquired <br />For the industrial world, it was a gut punch. The utility markets <br />by a preselected "stalking <br />were more of a roundhouse to the jaw. <br />horse" bidder. <br />An industrial coal seller in Central Appalachia said that he was <br />However, the bidding <br />hearing about and experiencing some deferred shipments during Q2 <br />procedures are open to <br />as some industries idled facilities and sent workers home. He said <br />potentially better offers of <br />that his particular shipments normalized in mid-May but have been <br />any or all of Rhino's assets, <br />playing catch-up since. <br />grouped into six categories. A <br />He said the reasons for some shipments still lagging was due to <br />"confidential electronic data <br />scheduling conflicts with the railroads and some facilities reopening <br />room" is available for potential <br />but not yet back to running at 100%. He believes that catch-up mode <br />bidders to examine asset details, <br />will probably run into the fall, but that's not the reason the industrial <br />provided such an interested <br />markets could be a bit shaky as 2021 deals are being hammered out. <br />bidder "has a bona fide interest in <br />As when the overall coal markets were in a downturn four and five <br />some or all of the asset groups," <br />years ago, competition for sales has heated up and that's knocked <br />according to the order signed <br />prices back. Companies are also being cautious about how much they <br />by U.S. Bankruptcy Judge Guy <br />will be buying for'21 because the economy has improved but the <br />R. Humphrey. <br />recovery is still ongoing. <br />Rhino, along with its <br />"I think you can draw a bit of a parallel with the met markets," <br />subsidiaries and certain affiliates, <br />he said. "Our customers have (buying) options and are seeing a lot <br />filed for Chapter 11 status on July <br />of prices that they didn't see last year or the year before. And they <br />22 in U.S. Bankruptcy Court for <br />are still trying to figure out what their needs for next year are going <br />the Southern District of Ohio. <br />to be." <br />The deal with the stalking horse <br />Those calculations are varying from industry to industry as a <br />bidder, previously reported as <br />chemical plant may not have missed a beat during the pandemic while <br />Colbeck Capital Management, <br />a cement plant saw construction slowdowns that still haven't regained <br />is in conjunction with $11.75 <br />momentum. And even within industries, like paper, one segment <br />million of arranged post-petition <br />continued on page 2 <br />IHS Markitg <br />�/�1�� <br />2U�O it i5 M3r�.it'' A,11 nght � re,<rv:c <br />
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