Thanks again, hightrax.If things are really as serious as the...

Thanks again, hightrax.

If things are really as serious as the BCB share price suggests, it seems to me that the company has missed a pretty obvious opportunity to put some pressure back on the witless government which has so seriously compounded its debt problems. BCB could have announced publicly a few months ago that its financial situation was critical, due not only to the slump in the met coal price but also to the State government's extortionate royalties regime; further, that without immediate funding support (preferably in the form of a two-year cancellation of royalty obligations), operations would need to be suspended at BCB's mines, leading to sizeable job losses (and potentially, a permanent loss of royalty income).

Maybe such a discussion has taken place behind closed doors but if so, there's no sign that it's been successful. If the company had come out publicly with a statement along those lines, Miles would have had to respond and, with an election just a few months ahead, most likely would have folded. After all, he's reportedly buckled to similar pressure from a much less worthy institution -- the Star Casino in Brisbane!