(7) Bill and Hold	6 Months Ended
Jun. 30, 2012
Bill And Hold Inventory	(7) Bill and Hold Two of our customers advised us that their coal stockpiles are increasing and asked us to consider storing their coal on our property. In April 2012 we entered into a storage agreement with one customer to store 250,000 tons for a minimum of one year and up to a maximum of two years. In June 2012 we entered into a similar storage agreement with the second customer. We will continue to sell the coal as contracted to these customers. The risks and rewards of ownership will pass from us to them as coal is placed into segregated storage. We will be paid a nominal storage fee in addition to our contracted price at the time the coal is placed in storage. As of June 30, 2012 we have stored 73,000 tons for the first customer and nil for the second. We have recognized about $3 million in revenue from this “bill and hold” arrangement. There were no change in payment terms with our customers and as of July 31, 2012 all receivables outstanding at June 30 have been paid.

Two of our customers advised us that their coal stockpiles are increasing and asked us to consider storing their coal on our property. In April 2012 we entered into a storage agreement with one customer to store 250,000 tons for a minimum of one year and up to a maximum of two years. In June 2012 we entered into a similar storage agreement with the second customer. We will continue to sell the coal as contracted to these customers. The risks and rewards of ownership will pass from us to them as coal is placed into segregated storage. We will be paid a nominal storage fee in addition to our contracted price at the time the coal is placed in storage. As of June 30, 2012 we have stored 73,000 tons for the first customer and nil for the second. We have recognized about $3 million in revenue from this “bill and hold” arrangement. There were no change in payment terms with our customers and as of July 31, 2012 all receivables outstanding at June 30 have been paid.