Rhino reports largely sold-out coal status in latest IPO prospectus

摘要

Rhino Resource Partners LP, as of June 16, had sales commitments that represented nabout 100% and 86%, respectively, of its estimated coal production — including npurchased coal and excluding results from a joint venture — for 2010 and the 12 nmonths ending June 30, 2011. n n"For both the year ended December 31, 2009 and the three months ended March 31, n2010, approximately 99% of our aggregate coal tons sold were sold through supply ncontracts," Rhino said in a June 21 updated prospectus issued as part of its planned nIPO. "We expect to continue selling a significant portion of our coal under supply ncontracts." n nRhino added: "As of June 16, 2010, one of our coal supply contracts relating to sales ncommitments for our estimated coal production through 2014 contained provisions nthat allow for the purchase price to be renegotiated at periodic intervals. This price nre-opener provision requires the parties to agree on a new price. Failure of the parties nto agree on a price under a price re-opener provision can lead to termination of the ncontract. Any adjustment or renegotiations leading to a significantly lower contract nprice could adversely affect our results of operations and cash available for ndistribution to our unitholders."