Ann: Director Resignation, page-55

Some great posts in this thread.

Currently this is the smallest holding in my portfolio, and at this point it is the worst investment I've made in quite a while. The performance of this operation has been disappointing, coupled with a collapse in the coal price around the time I started dabbling in bcb, although coal prices are still at good levels for the efficient mines.

I took one more small parcel today. If I didn't already have an investment in bcb, I would feel comfortable starting a position here (but don't get me wrong, not a big position, this is quite risky). As it stands I have invested a bit more than I would have liked and average price is now around 19c. At current market cap there's a lot of upside potential, but the pressure is really on now to get costs under control and gradually ramp up without any further cap raises.

The two resignations does put me a bit on edge, however my past experience is to invest purely on numbers with tweaks to the valuation for corporate governance issues. Exceptions for serious corporate governance problems. My exit point for bcb will be much lower than I initially hoped, however at these prices I am a buy (small exposure, significantly risky).