BOF is destined to go the same way as Baillieu. Neither of them had/have a back bone and basically did/have done nothing while in their positions of power but watch their backside grow bigger and insure their pension security.
In my opinion MEL has made the correct decision to minimise all further expenditure until certainty of the industry is re-instated in NSW. They need to preserve the cash in bank which protects SH value to some extent.
The market has basically decided to assign zero value to MELS reserves at this point in time which is an absolute joke.
The Labor party are desperately trying to gain any, and I mean any extra votes they think they can possibly secure from voters outside their core voting base as their core has deserted them.
The fact is nothing will help them, none of these new rushed policies - nothing. They are gone at the next election.
Come September things will start to move in the right direction again. Windser, Oakeshott et. al. will also hopefully be gone and the Greens should be a pitiful stain on the floor of Parliament.
That's my view anyway - or maybe my dream I had last night. This low stock price has me all confused :O
Keep your chins up if you are feeling down, life is tough for MEL investors at this point in time but things will improve.
MEL Price at posting:
6.9¢ Sentiment: LT Buy Disclosure: Held
