BCB 5.33% 7.1¢ bowen coking coal limited

OK, so according to you my “unequivocal FABRICATION” (in caps...

  1. 4,848 Posts.
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    OK, so according to you my “unequivocal FABRICATION” (in caps for good measure) is my assertion that a) $82.6M is a lot of debt and b) the mines aren’t making money. Let’s look at the facts:

    In the 12 months to date, even with $34M of GST refunds, they’ve had negative operating cashflow of ($119M). They had to raise an additional $85M in October 2022 and then another $50M in June 2023. The latter raise came during two quarters when their debt payments were deferred. They also gave up 10% of one of the projects to get a cash injection. As things stand, the mines are not making enough money to service their debt. That’s factual.

    Then, post the latest raise, two directors, one of them nicknamed ‘Mr Coal’ and the other one the company founder (!) resigned one after another. And you are busy telling the forum that things are going to magically turn around from here, the company will easily be able to service tens of millions of debt, and anyone who disagrees is “misleading” the forum etc. No wonder you’re wearing a huge L on this at the moment.

    https://hotcopper.com.au/data/attachments/5491/5491116-8659e5f2b3e1ea12075a2a91d35a5240.jpg

    Last edited by mondyinvest: 08/08/23
 
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