Emma, spot on. IMO delisting has always been the modus operandi of this company. Starve the market of information for 6 months so that investors get impatient and sell the stock down and then use that sold down share price as justification to delist. Hey presto, your previously disgruntled shareholders have all gone away, and as a delisted company you have no ASX scrutiny at all, and you can do what you want as long as you comply with the Corporations Act.
Oh dear, and Mike thinks Mariola is "world class". It's not "world class" for a whole lot of reasons that this PFS has now confirmed.
BMB should have looked at a commodity that investors like, is rare, and commands a reasonable margin, .... large flake graphite for example. Here are the key points of a graphite company's PFS. Note the CapEx is an extra $70M but the cash margin is US$1,600 per tonne vs US$23 per tonne for Mariola.
This is "World Class". No wonder investors hate coal so much.
BMB Price at posting:
2.2¢ Sentiment: Sell Disclosure: Held
