The sugar industry has been in slow decline in far North Queensland for years so it is not inconceivable that farmers could sell farms for the right price... A number of sugar mills have closed down over the past few decades, and many of the sugar cane farms have been swallowed up for real estate. Having said that I am still not confident that the individuals involved in this company have any chance at all of making anything happen. I would love to see a journalist do a good investigative article on these individuals, the relationship between Gleneagles (including directors), Vulcan, and QBL.. How much money Gleneagles made from QBL's non-compliant press release, a comment from Mourilyan Port Officials on what discussions they have had with QBL. A quote from Queensland govt on what they would have to do to get environmental approval to mine.
And if the announcement after the first trading halt contained speculation which the ASX only allows in exceptional circumstances - WHY DID THE ASX ALLOW THEM TO RELEASE IT? Obviously no one from the ASX read it in the first place until the company had traded for several hours. Too late for me... Not good enough!
QBL Price at posting:
1.7¢ Sentiment: None Disclosure: Held
