Yup MD and CEO shuffle with minimal disruption, smoke and mirrors. Referring @richies Receivers Playbook the company is somewhere between theatre reshuffle and ‘whiteknight’ stage. Dreamteam going back to announcements involved in Bluff, BME decisions. Patting themselves on the back for the great job they have done using shareholders money. IMO I don’t think same management or MD have done enough for shareholders for a long time. The only dividends being paid are recurring salaries to MD and CEO, CFO (?) to what must be a combined +% a yr on the current $50 million market value? Maybe the yearly report or half year shows the names of the only people who have continue to pocket benefit over time. It stinks for shareholders only who might have invested when BCB was worth $300 million. Now big debt with repayments ahead, a trail of closed mines BME looks to be the latest, a relatively puny 2.5 million tonnes of questionable coal quality discounted price, negative operating cash, stubborn costs to be expected with only 2.5 million raw tonnes and about 65%(?) yield according to last quarterly!
It would please me to see someone like Robert get involved and drain the ENTIRE swamp, Chairman, longstanding management and all! It is the same clowns running the place wearing different face paint.
BCB Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
