Picasso,
I've been debating adding more, as I agree with all of your points. However, my money was being allocated to augmenting my Terraform Global (GLBL) position instead. I did just receive some dividends from it that I'm considering using to buy some more FELP.
My question is, why haven't they managed to come to an agreement with the bondholders yet?
Also, if Cline were to come in with new equity cash and dilute existing holders by 50%, I wonder how the dividend agreements would work. Right now common shares have arrearages of $.51/share already built up. If Cline comes in buying new shares, would they be new common shares? Or perhaps he would buy some preferred shares, giving him lower dividend payments, but before anything on the common.
The other concerning issue is the multiple fires they've been dealing with in their mines. I don't understand enough about coal mining, but it really seems odd to me that it would be so difficult to manage a fire in a mine. After hundreds of years of mining, how have they not developed techniques for this yet?