new beginning

Positive AGM on 17 March (although 30% of the vote was some what unfairly against the Chairman, Gary Cochrane, who has done a lot to get BNT back on its feet) with BNT successfully completing the Deed of Company Arrangement earlier in the week.

Hope the shareholder vote to increase the NED remuneration pool is used immediately to get in some experienced legal and commercial nouse rather than just more engineering qualifications. BNT cannot afford again to be in the hands of administrators and tied up in corporate rules.

Strong coal prices bodes well for activity. BNT now needs to announce some new contracts, to use the idle equipment and staff, particularly in Queensland. Then we will likely see a capital raising and requotation on the ASX.

Hurrah! Hope the board can handle the pressures.