i was in altura at the time & james brown was quite successful in getting the coal mines up & running but was hit by the commodity cycle, coal prices colapsed, so they moved into clean energy area Li ( pilgangoora), which turned out to be a bonanza which they had part of with PLS. the race was on to get their mines up & running, instead of building one mine plant between them on the same patch they both built individual mines !! that IMO was the error the costs in both cases was enormous, the difference was how the capital was raised ? that again was at the top of the commodity cycle JB & altura unfortunately went to the money lenders & got screwed on the deal ? PLS was of course the big winner, they had to borrow to buy the costly AJM mine but cleverly they got their finance from the australian super fund & not the money lenders. so james browns only fault as far as far as i could see was in the are of finance & that responsibility was shared with the rest of AJM management.
SYA Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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