Bankruptcy negative Cashflow, page-239

I hope the BOD and our new CEO have the kahunas to admit they were wrong and to temporarily stop the bleeding and conserve capital.

So what your saying if you were running the company you would have pulled the pin months ago without even knowing whether the plant was viable or even worth restarting again. They have now established the performance and approximate operating costs and there will be a point where a decision will be made if they need to go into C&M with an adequate cash situationto sit it out for a while. CXO made that decision with about $80m in hand ( and a lot less known about future viability) which is probably getting close to where we are now.

Nothing to do with kahunas or confessions, just business decisions based on knowing exactly what prices they are receiving, their outgoings and their current cash situation. You don't rush into C&M before you need to, there are many factors involved. Any restart will likely require a cash injection and thats much easier to acheive if you know what the plants capable of.

Cheers Whisky