Noble Group

[LionFlyer]

Three Years Ago This Coal Mine Was Worth $624 Million. Now It Sold for $1
http://www.bloomberg.com/news/articles/2...in-of-coal

If u go to perth and visit some mining towns which were booming just couple years back, u will see many become ghost towns with many heavy machinery and trucks park at the roadside, left there to rust. Those smaller mining companies can go bankrupt quickly and everyone just leaves town.

The fact that it is sold means that there is value, not now but maybe in 10 years time. The coal or whatever assets underneath the soil has not changed. The best time to buy distressed assets is probably now.

$1 dollar is a nominal rate for accounting purposes, you and I can't walk in with a dollar to buy because whoever bought it probably had to assume whatever debt there is. If there was a chance, I would have bought it at $1 dollar too, then let the coal continue to sit there. LOL.