Well sub 10c or even sub 5c is nothing new for CBH.
The interesting thing with this resource boom is, I would think a lot of companies are now in a much worse position then before it all started.
They where not making anything substantial before and now they are not making anything substantial either but have a whole lot of debt.
Whilst everyones personal investment decisions are their own responsibility full stop, I would be quite annoyed at managment for been so stupid. Evidently not many had any idea how commodity prices behave.
Issuing convertable bonds at such a high price so late in the cycle was not s smart idea. Whilst shareholders would not have been pleased with it at the time, selling stock at a discounted price would have been a much better option and then maybe some debt.
At least then it would not put the company in this positing.
CBH Price at posting:
8.0¢ Sentiment: None Disclosure: Not Held
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