No need for NOT to use cash.... Their stock is their cash... and at todays 2nd day of trading in the .30 range, the weighted average trading price for the last 10 days is now only $ .39 / share.

NOT could make an offer any time for PRB on a 1 for 6 basis and that would be a 60% premium to market based on the weighted average last 10 days trading.

This would be less than 5% dilution to NOT and a stratigic move.... JMHO

or:

They could stink bid at 1 for 8 which would still be a 25% premium to market, and raise that after the hoopla to 1 for 6

Just telling it like it is from where I sit.

When you see something you have been looking at come up at a huge discount, do you buy it while the sale is on.... or do you wait till the product is back at regular retail price to buy?

If the answer is the later, then millions of dollars are waisted every day plugging mail boxes with flyers, and tv with commercials!