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Use of Proceeds We estimate that the net proceeds to us from the sale of our common units in this offering will be $17.5 million, at an assumed initial public offering price of $ per unit, the midpoint of the price range set forth on the cover of this prospectus, and after deducting estimated underwriting discounts and commissions and offering expenses. Our net proceeds will increase by approximately $1.9 million if the underwriters’ option to purchase additional units is exercised in full. Each $1.00 increase (decrease) in the assumed initial public offering price of $ per unit, the midpoint of the price range set forth on the cover of this prospectus, would increase (decrease) the net proceeds to us of this offering by $0.9 million, or $1.0 million if the underwriters’ option is exercised in full, assuming the number of units offered by us, as set forth on the cover of this prospectus, remains the same and after deducting estimated underwriting discounts and commissions and offering expenses. We intend to use the net proceeds from this offering to purchase an additional estimated 8% to 10% partial undivided interest in substantially all of the coal reserves and real property owned by Armstrong Energy previously subject to options exercised by us on February 9, 2011. As of March 31, 2012, we had a 50.81% interest in such reserves. The actual percentage acquired will depend on the fair value of the reserves at the time of acquisition. Armstrong Energy intends to use the proceeds of the sale of the partial undivided interest to us to repay a portion of Armstrong Energy’s outstanding borrowings under the Senior Secured Revolving Credit Facility.