Ann: Suspension from Official Quotation, page-150

Hi Kropka, my thoughts on a rights issue are in relation to a situation where the lender won't come to an flexible agreement, they may need to look at raising funds to clear that loan. In some ways the loan covenants can actually restrict management from taking certain actions, eg I suggested on here over a month ago that perhaps they look at an extended shutdown over Christmas to reduce costs and use stockpiles to meet shipping, but would that breach covenants on meeting production targets?

If the lender is the group you want holding the big stick then we are really in trouble, it should be the large shareholders who are doing that. I don't know if large shareholders fall in love with management as seems to happen with retail holders but it's really going to be up to them to get in a help sort it out, if that's what they need/want to do. Unfortunately having large shareholders who are also large customers may make things a bit more interesting.

But yes costs just keep getting higher as I have been pointing out for awhile now, funny when I highlighted MC nice pay increase earlier this year there wasn't much comment on it.

https://hotcopper.com.au/threads/an....4704061/page-2?post_id=38047024#.XVYaKNF_WhA

Worth every cent according to some, well let's hope so as we certainly need him to earn every cent of that $602,250 package (excluding those recent performance rights) right about now.

Thought for the day, if we hadn't of had our merger of equals would we have had the fines circuit installed and paid for long ago?

All the best