I attended the AGM this morning. It definitely appears that it's out with the old...
The sale of TCM is till progressing, not unusually, it appears a key reason for TCM not yet finalised is regulatory. The net proceeds of the sale will be used to fund the next chapter of this companies existence. This is great in the immediate term as it will limit the need to issue shares at current prices. It was communicated that the next deal is likely to be coal space, NEC (New Emerald Coal) was also mentioned, this was also mentioned in the company accounts. Given coal is back in vogue, this should be great news for shareholders.
The directors are well aware of the need to create shareholder value. This is great considering the years of shareholder destruction.
All in all I came away positive and am happy to be a shareholder.
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