No market depth available, not a good feeling. Though not a current holder of CXY, I feel for investors. This has been a real shock. Right or wrong, my feel is CXY does not have the liquidity of funds to recover from an extended period of suspension. If it resumes trading at all, there will be a rush for the exits - I have ridden enough similar ships (that's how I learnt the meaning of 'diversify'). The ability to tap the market for capital will now be limited. How will their conditional finance arrangements be affected? Unless a cornerstone investor comes to the party, no doubt on unfavourable terms for CXY, I see liquidating the coal assets as holder's only hope of realising any value. Can anyone put a figure on the coal? I hope it doesn't come to this, but I can't see CXY having the capital to buy the time it needs at this stage.
No market depth available, not a good feeling. Though not a...
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