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25/01/13
14:23
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What does Burgess expect from the shorters -
They cant lose.
They know there is no company changing acquisition around
the corner that will catch them out and see them have to
rush to cover their positions so they just keep playing
their game day in day out.
If this clown thinks things are going to change with
Carrapateena he had better think again because we are still
going to be a one mine company with all the inherent risks
involved.
You cant keep adding to the PH minelife indeffinately, so
when the day comes to say goodbye to PH the options for
Burgess are going to be limited.
Oh to have a nice second option running at full steam now
helping to fund the development of Carrapateena.
Burgess and his business development team make all the
excuses in the world but how hard are they really trying
to find another fill in before Carrapateena becomes a
reality.
My guess is not hard enough.
Some commentary today says we have a billion dollars in
M&A kitty while the Quarterly puts the figure at closer to
$660 mill. After the purchase of the tunnel boring machine
it distresses me that we couldn't fund that out of normal
operations.
The misery continues.
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