Big spending CEO and directors, they don't seem to under stand economics.
You shouldn't(don't) over indulge on your comforts with borrowed money.
New rental address, with the biggest and most important company in Queensland.
Top class office suite. Lots of staff.
You only borrow, to add value, not comforts.
Like BCC, spent money like water. Went half share in an off shore drilling platform,
cost them multi-millions of dollars. Borrowed for the drilling of all their wells.
Top line offices in Aust. and USA.
Their oil and gas wells were producing. Not huge amounts, but enough for the running costs.
Then BCC hit a DRY WELL. Lights out, the sharks went for their throat.
Gone in a second.
Money lenders have it all. Except for the lawyers of course.
I have their bankruptcy papers sitting on my desk at this minute.
CTP have borrowed from the toughest lenders in Australia. Macquarie Bank.
No mercy from that lot. If CTP stall, MQG will take the lot.
Bet they will be producing oil within a short time frame.
Will CTP be the next lot of bankruptcy papers to grace my desk?????
bruham
CTP Price at posting:
20.5¢ Sentiment: None Disclosure: Held
