OK we are all entitled to different viewpoints on this stock.
For me the positives still outweigh the negatives.
Some Positives:
1. The project is moving forward slowly but still faster than most other projects have in Indonesia.
2. There appears to be substantive backing by some major players
3. Have a great resource.
4. Have almost completed all Government requirements prior to production start-up.
5. Strong management team with Indonesian component and local community backing.
6. Can still have positive cash flow at current prices for at least five year.
7. Coal prices appear to have bottomed.
8. Cash is low - but acceptable for six months. (+/-)
9. Management have a lot of skin in this game. And their (high) salaries won't matter compared to what they will make if this takes off. And I can't believe they will be happy to lose these $$$ just because of their salaries and manipulations.
10. Potential takeover target once forrestry permit granted
Some Negatives.
1. Low cash balance.
2. High admin costs - salaries in the past. Admin ytd $0.92m, next qtr $1.75m!!......I must of missed the explanation
3. Lack of very meaningful management communication or transparency of costs/issues for shareholders.
4. Slow Governmet process
5. Apparent manipulation of SP causing a lot of concern for current investors
6. Lot of inuendo plus gut feel comparisons to other stocks as to why the project won't happen. And while detractors could be right it is still, to me, mainly gut talk.
Cheers
CKA Price at posting:
7.0¢ Sentiment: Buy Disclosure: Held
