The directors are doing a great job holding the ship steady as...

The directors are doing a great job holding the ship steady as she slides under the waves.

In today's Australian newspaper is an article about Clive Palmer's QNI failing to pay its Carbon tax and now acruing penalty interest. It is one of three companies overdue, Penrice is one of the others.

I wonder if the overdue Carbon Tax and the recently announced $5m break fee to Ridley will be in the accounts. I suppose the value of the 7c options over 15% of PSH granted to Ridley will also be in the accounts.

I don't know if there are other contract break fees such as to the steam supplier nor whether the write down of stock and spares will be brought to account.

If I was a shareholder with any need of money I would be selling now.

Bacci