Sorry for how this investment has panned out for you
@Clybigz, but I won't cop that. There is a literal highlight reel of your posts where you disputed from a much earlier stage that Bowen were going to struggle with their debt/cost load - often whilst accusing me of exaggerating, fabricating, misleading. etc. I think it was very poor form and I hope that others on the forum were able to dispassionately make a judgement on the content of my opinions, rather than on the emotive responses they elicited from you. Here's a tiny snapshot of some of your past comments, I could post probably 20 or more examples if I could be bothered. When you read these, don't forget to consider that over the past months, Bowen have raised $50M (twice), issued $10M of stock to New Hope, had to increase their debt with Taurus, put Bluff on C&M, and deferred their debt repayments for many months down the track:
8th August:And the unequivocal FABRICATION he’s knowingly telling the forum is this; “There's a lot of debt to start paying back and the mines just aren't making enough money” - He knows full well with regards to the debt amount due next quarter, the ‘mines’ are very much making enough money to service that payment(s). (link: https://hotcopper.com.au/posts/69223478/single)I wouldn’t bother, mate. They sold out at a loss. They’re going to exaggerate continually and deflect from what you say. They wanted to talk about debt but deliberately mislead the forum with regards to the revenue stream the stock would also be anticipating. They wanted to make mention of costs but deliberately misrepresent the fact that they’re more attributable to ramping-up production rather than steady-state. (
link: https://hotcopper.com.au/posts/69220839/single)
31st August:But it’s baffling - they [Shaws] forecast the debt obligations, specifically Taurus, being met without any major concessions whilst their operations continue in the same direction, absent Bluff shutdown, but the resident two ‘experts’ have been backslapping one another on supposedly “getting it right” with regards to, according to them, their inability to meet those obligations…hmm, quite baffling. (
link: https://hotcopper.com.au/posts/69658419/single)
They’re looking to defer further payments & dates - great. I’m not seeing the rationale you’re using in continually suggesting this somehow implies there isn’t enough revenue being generated. It’s already been explained to you, unless you’re deliberately being obtuse, deferring a payment or extending an end-of-loan date doesn’t automatically mean it’s because the company doesn’t have the funds to meet those terms. (
link: https://hotcopper.com.au/posts/69667981/single)
(20min delay)