I've got to hold back here. What a cluster ***k. Curragh coal mine is a prize asset. It's not rocket science to dig dirt, then get coal, wash it and load it on a train. When doing this you spend less than your earn, and if you are unable to do this you walk away. They borrowed money to pay dividends post IPO, they raised more capital, they sold fleets of equipment and now asking for more money from shareholders. Employees I know at Curragh are also being offered redundancies, which basically means a shift towards near full contracting mining business model. It is now obvious that management are not stewards of shareholders capital and have no idea how to operate a coal mine.
I think it's time to invoke uncle Warren's rule 1 and 2 - don't lose money. I'm out!
Ann: Refinancing Package, page-8
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Last
$1.11 |
Change
-0.050(4.31%) |
Mkt cap ! $1.860B | |||
| Open | High | Low | Value | Volume |
| $1.15 | $1.16 | $1.10 | $2.515M | 2.244M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 8289 | $1.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.11 | 2011 | 1 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| CRN (ASX) Chart |