Despite growing competition from natural gas and the landslide legislation introduced by the US Environmental Protection Agency, Foresight is expected to release its initial public offering on Thursday.

Foresight previously took a big risk by investing in more than 3 billion short tons of coal reserves solely in Illinois.

“For investors, it’s just unusual you get to the chance to buy an IPO in an industry that’s this depressed,” Confluence Investment Management chief market strategist Bill O’Grady told St Louis media.

“You tend to go out and try to sell your stock when everyone’s clamouring for it”

The release of the IPO will see Foresight establish a place among other locally based coal giants, such as Peabody Energy.

The offering will shine a light on the renewed interest in Illinois’ reserves and gauge investor’s attitudes toward the “dirty fuel”

Foresight’s IPO will only offer a small piece of its limited partner, about 13.5%, to the public.

Foresight Reserves will retain control and ownership of most of the company, with a 99% stake in Foresight Energy.

Investors could well see Foresight as well-positioned to compete in an industry that is contending with environmental activists and government regulators.

The stricter environmental regulations could even give Foresight the competitive edge it needs to synch some serious investors.

The stricter guidelines have forced utilities to install scrubbers, making Illinois coal a viable option again in turn taking business away from the cleaner Wyoming coal.

The cheaper Illinois coal is now more desirable than ever especially when compared to the much more expensive Appalachian coal, which burns similar to coal from Illinois.

Costs are rising in Appalachia as miners are forced deeper underground, while Western coal prices are climbing as problems with rail networks play havoc with supplies.