Jackpot
community fact sheets are useless when they don’t have the funding for the expansion.
-Would they be laying off workers if expansion was going ahead?
-How are they going to afford $12 per tonne agreement with WICET if they can’t expand. If their commitment is 2 million tonne is it $24 million per annum if they deliver get the coal or not. If they can’t deliver the coal where is the cashflow going to come from?
Finally, everyone wants a great result and no one wants to be negative but sending community fact sheets from December is irrelevant if they don’t have funding. We need to see reality. Saying that the big boys won’t cut their losses and run is ridiculous……Bear Sterns, Lehman Brothers etc…we are a small company in the middle of central queensland. If the funders can’t see how they are going to safely get their money back then they do not need to throw any more money at it.
Jackpot, please address the above points in an objective manner and not give blind optimism that people are prepared to throw good money after bad.
COK Price at posting:
1.4¢ Sentiment: None Disclosure: Held
