There is a risk the reason the infrastructure side was sold off was so 'coal only' Bandanna could be wound up without affecting QLD state infrastructure plans?
And the level of shorting indicates the company is dead in the water but we don't know it yet.
That doesn't stop everyone, including consultants, the council and govt getting stuck into the remaining cash via various feints at 'progressing the project' before the coup de grace is delivered once the barrel is empty. Some of their friends and relatives might even be shorting it to boot.
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