Hi SJ,I have been involved in well-run businesses. I think that...

Hi SJ,

I have been involved in well-run businesses. I think that I can recognize things that a diligent and competent Board would never allow. These things are easily observable, even from a distance.

I know I’m preaching to the choir… this is coal. It’s a commodity in a boom. No mystery required. IMO the issues on the table don’t require management to design overly clever solutions to problems that don’t exit. Certainly no need for the CKA Board to try and disguise the grabby efforts of the major shareholder as “in everyone’s best interests”.

There should be no difficulty in management working the issues and presenting an acceptable proposal to shareholders. There are many competent coal traders and sales agents who would chew their arm off for the privilege of representing CKA’s interests.

I ask myself, why tie ourselves up and become hostage to an unproven shell company masquerading as an international coal trader? The answer here seems to be that the major shareholder has inserted themselves into otherwise straight forward management decisions and is seeking to overturn common sense, creating terms and conditions crafted to suit private interests over the interests of the broader membership.

As for the EGM, some ideas should never be permitted to flourish at the Board table, let alone become a major planks of the commercial strategy, let alone ever reach shareholders as a proposal.

IMO any self-respecting Chair would hang their head in shame at what has been allowed to flourish here. The barbarians are inside the city gate… the Chair opened the gate, gave them the keys and said “make yourself at home, I’m just popping out for 5minutes”. That is obviously a colourful way to describe the current situation but if you peel away all the drama I do not think that it misrepresents what we are seeing here.

I'm almost desperate for someone to say cool it buddy you've got it all wrong... but if it walks like a duck, and talks like a duck …

Sad face.

AM74