Sorry that it's frustrating to follow @BullishBearish, I do hear...

Sorry that it's frustrating to follow @BullishBearish, I do hear you. But consider this a moment.

Back in December 2022 I flagged concerns with their debt position (Post #: 65338386). In March 2023 I suggested that all was not well with Bluff and that the problems evidently went beyond just bad weather and logistics disruptions (Post #: 66755089). We know how that has since ended. In June 23 when they raised $50M I noted likely struggles with their costs, comparing that to the wider industry (Post #: 68095548) and wondered why BCB still weren’t giving guidance. In July 23 when the quarterly came out I raised concerns again about their cash burn and the likely need to raise capital due to costs and debt repayments (Post #: 68951882). By this time the company had drawn down another $7M in debt, done a June $50M capital raise, and deferred multiple debt repayments. This is the thread where it really kicked off with Clybigz and he got very upset at the opinions I was sharing – it makes for interesting reading now. I tried to explain the cashflow statement to him (Post #: 68974989) and the above screenshots about why I thought costs would stay where they were, due to the wider market. This seemed to upset Clybigz who said “I think the credibility of someone who holds such an opinion should be queried when the best they can do to justify their negative sentiment is resort to generic comments about the res. market.”. Ironically BCB have since come out – after having to raise even more capital – and blamed the wider market conditions, in slide 13, point 1 of the latest presentation. In response to my comments on that July quarterly thread Clybigz, said I had “absolutely no idea”, that I was “very snarky”, was “a self-implied economics professor”, “a habitual fabricator”, “cowardly”, and that I was a danger to potential investors, and so on. Based on today’s comments, even though back in July Clybigz was clearly of the understanding that I thought production costs would stay high (per the screenshots a few posts above), he’s now trying to paint it as though this was never my opinion and I’m trying to be a hindsight king – even though it’s cleared outlined in the posts I’ve referenced in this comment. In the meantime… despite Bowen having had to:

- raise two tranches of $50M cash into a sinking share price
- issue stock to NHC in lieu of debt repayment
- put Bluff into C&M
- increase their debt (and interest/royalty rates) with Taurus
- defer recent debt repayments and defer the maturity date
- sell 10% of one of their projects to a JV partner
- seek royalty payment relief from QLD state government
- watch the share count balloon from 1.5B to 2.7B

...Clybigz is busy telling the forum I’m a “fraud” and “a habitual liar”, am always moving goalposts, etc. I stand by my comments which is why I'm happy to post them in their entirety. I enjoy contributing to these forums and hope that, even if people have not always agreed with my views, hopefully there's been enough thought in the commentary to help holders avoid the heavy drawdown and multiple dilution events that some of the noiser and more emotional voices on these threads are evidently enduring. Cheers