Ann: Successful completion of A$156.5M institutional placement, page-19

@quiet-trader

There’s an old axiom: “Never let an engineer budget and run a mine”

Just let them build it and then see them on their way.

When I see how many Funding Arrangements for New Mines or Expansions have a compulsory hedging element, it always seems to be implemented on the worst terms for the Mining Coy and the very best terms for the Funding Entity.

A drunk derivatives trader in the “Establishment” or what ever they call the other Watering Holes around the Nation that traders go to unwind would give Mining Coy Executives better advice .......... and it would only cost them a few shouts at the bar.

Commiserations to those that have been riding BGL with all its promise and yet lack of control.