Just imagine for a tantelising moment...
.... the wariness, scepticism and bitter taste in the mouths of those that inhabit NAB's northern Victoria regional headquarters when the subject turns to growing marijuana. - after their disasterous, ongoing, Vietnam/Afghanistan type unwinable 70 mill CAN quagmire.
...and how mindbogglingly brave that one shiela or bloke who progressed ECS applicatiion thru NAB's regional/'rural management must be.
ECS's numbers, the projections and the company itself must be solider that the Rock of Gibralta.
After thier experience with CAN, no other application in the whole dry dusty history of Australia's rural lending would have been given such a 3rd degree grilling.
'Speaks volumes. Says everything.
Also worth marking another milestonr today i reckon.
ECS market cap hits 50% higher than CAN.
'Pretty sure for the first time. Even thru the past 12 months their MC has often been greater thsn ours.
The final decoupling? - ECS running over already dead road kill up there on those hot dry dustu northern Victoria country roads?
Don't bet on it. CAN is the province of idiots (imo). Just look at that mad totally inexpkucable spike last September.
How much of that 70 mill will NAB recover? At what point will they pull the pin?
I am assuming that - given how banks operate, and NAB now having absolute effective control - that CAN is now being run with the sole aim of minimising their writeoff.
(please tell me if that could possibly be wrong here)
And that shareholders will get nothing from that situation.
??
( there is simply no way possible that CAN will ever trade its way out of this galloping debt. 'harsh reeality. Zero chance that i can see)
Anyway... we're still ticking.
No dried flat kangaroo pancakes on this side of the Sunraysia Hwy - shot in the head by crushing debt.
We got zero, just a triple certified little bit of very handy facilty on offer.
ECS has biult EVERYthing it has from its own resorces.
(don't worry, this amazing set of physical and corperate assets will be truly valued before too long, imo. The law of physics says so)
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