BT I aint "blaming" HNC ... hey biz is biz and dog eats dog in this world ... and all they did was see the opportunity AS PRESENTED by the "slackness", for want of more descriptive words, of our Bridge and they seized the opportunity.
Yeah, and coincidence that they now control EVERYTHING and not only 50% of only the oxides assets. But dont talk to me of generosity ... that opportunity lost. But then as u say, who would have been generous under such conditions to perpetuate the charade.
At this stage tho, I would personally prefer to be rated "creditor" alongside GT and Yandal/Cornell than "shareholder" having previously been at the receiving end of a DOCA as lowly shareholder, and putting that process to the test now.
Shareholders should have no misconception about what that means. I would be extremely surprised if shareholders end up with more than 5% of their last listed value by end of this, IFF it survives intact. And we even have to wait for liquidation or relisting post DOCA to crystallise the tax losses, not that we wouldnt have enough of those by now anyway.
And so far as retsina goes, more like rice wine and Quindao brew atm ... I have nothing but the highest respect and friendliness for our sino friends ... the last bastion of true Capitalism. Its OUR local corporate and political attitudes I am disgusted by ... they are archaic and disfunctional in today's world and the longer we take to wake up to that reality, the LESS our kids and theirs will have to worry about. Predators will only take what we allow them to.
What happened to the noble "over my dead body" attitude of past politicos with national pride re the handing over of our national assets? If we focus only on quickfix / quickkill gains, we will end up bankrupt like the yanks and most others who have lived by that attitude for the last decade ... actually since 1971.
Bravo to Cuzo and his vigilant team ...
IMBOOC
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
