If i was a shareholder I would be asking some very very serious questions of the reliance of Bingo transporting waste to QLD and the effect on is earnings, the numbers are mind blowing. Bingo collects the landfill levy in NSW from other collectors say $180 tonne (could be less could be more) and transports it to QLD for a cost of say $80 tonne (could be less could be more) in ground. The answers to some of the Four Corners by Bingo were snowflakey and concerning. There needs to be an external audit conducted.
The secret ABC recordings of the NSW EPA Director Steve Beaman where he jokingly stated that he would not be enforcing (in effect he did not) a new proximity principle offence effective 11/2014 in that waste destined for landfill must be disposed of within 150 km of where it’s generated, or to one of the two nearest lawful disposal facilities.
We (Beaman) take their (QLD) mangoes and we send them our waste. Like a lot of people I am gob smacked I feel sick in that the NSW EPA yes THE NSW EPA and one of its most Senior Directors Steve Beaman turned his back / looked the other way and would not enforce his own legislation / law. Now I know why the NSW EPA reported themselves to ICAC and Beaman went on gardening leave / holidays - As stated in the Four Corners Report possibly $100m + pa was diverted from the the NSW Government revenues.
The Board of the NSW EPA and the senior executives should resign whilst a investigation is conducted.
Bingo should provide detailed financial numbers revealing the effect should dumping of NSW waste in QLD be outlawed and NSW legislation enforced.
BIN Price at posting:
$1.94 Sentiment: None Disclosure: Not Held
