Ann: Fully Underwritten Non-Renounceable Entitlement Offer, page-16

Don't confuse your patience with managements failure to execute

This is a CR (yes its underwritten) to fund PCI which should fund BBM Coking. This was the plan 2 years ago.
Jim Coleman the coalman came on almost a year ago now and was going to mine Q1 2019. Then it was Q2/3 2019, now it's Q1 2020. He's been in for almost an entire year now and the timeline has been pushed back an entire year.

Getting bored here. It'll go eventually but whether thats in 2020 or 2025 we'll never know. I don't have much confidence here. I'm not here for the management, simply the coal resource.

I say price will sit around 5c for a couple of months. Maybe drop to 4 or 4.5c this week. Then if things are actually on track we'll see 10,15 and then 20c when mining starts.

$5.1m also seems like a lot to start development of the haul roads and a jetty. Does this include the 2 barges we've been quoted?
From the wording it doesn't sound like this $5.1m will get us to barging ~5000t down the river every 2.5 days.
There's 1.5-2 days to get us back up the river too I imagine.
Looking at maybe 30kt/month production from these barges which is below what we were told a year ago (50kt/month)

zzzzzzz

and yes bigdog, before you say it, maybe I will sell. Me and bricking can go together hey.

This is under-performing enormously.

rant over... been waiting 12 months to say that