As someone who supports the board spill I have said several times that if this action results in the board actually doing some of the things they are supposed to be doing, and actually having successful achievements, then I'm happy.
If by having their jobs threatened they've finally pulled up their socks and EARNED the votes of support from the shareholders, that's fine.
It's just a shame that it's only happened when they've had their jobs threatened. As CB said a few weeks ago, if he'd known that the spill threat would fire the board up so much he would have done it years ago.
To re-iterate - if this process finally gets us the proactive board this company deserves, then we've succeeded.
However, I'm still worried about the assets being sold off in a fire sale - this could be the start of that. We'll know when we actually get some detail of how this seperate listing will work.
- Will we shareholders get shares in "Central Coal", based on our current holdings? Or will CTP be a/the major owner of "Central Coal", with CC as an asset in CTP's books?
- Will this be for just the coal that has been found already, or will it include future coal finds on CTP's leases?
I'm sure others have many more questions.
CTP Price at posting:
43.0¢ Sentiment: LT Buy Disclosure: Held
