Ann: Results of Entitlement Offer, page-4

Guessed this would happen. The bad experience with the external logistics like maintenance on DB terminal and rail outages from weather-( is there concrete cancer in the bridges like the other end of this line?) in July and some of August were crippling to cash flow, combined with lower coking coal prices. Since late August the long line of ships waiting to load has reduced by about 2/3. If the $9m payment for the September quarter was not renegotiated BCB looks like it would have had to default , all because of things outside of its control. This is the nature of primary industry, of all kinds. Very dependent on the weather, and markets. Its a gamble. The wet season is coming, but with it may come higher prices as shipping in more intermittent due to weather, especially cyclonic activity.
It was the regions who tipped the ALP out in Qld. this election, particularly the north and central ones. The Qld. ALP basically a city party, ripped off the regions, especially with the enormous coal tax, to splurge in the SE especially Brisbane. Olympic madness for Brisbane too. Redress of wrongs needsto begin. An announcement of a review of the hugely internationally un-competitive coal levy would be a good start.