Again a number of incorrect assetions from more of UNV holders
First some facts TER board in the last 2 yrs has gone complete overhaul BNU was purchased by previous board and they got the company into a complete hole with that huge debt to build the facility which didnt produced anywhere near it promised Once Wal king got in he has systematically righted the ship magnificently 1. Removed all members of old board 2. Reassessed BNU - reduced the stem of outflow, canned previous bad plans (chip and wash facility for BNU) and concentrated on things which make sense 3. Complete revamp of the balance sheet 4. Reduced BA costs massively. Rio Tinto sitting in the glass offices in Brisbane couldnt do it - WalkKing shifted the entire TER office to Blair Athol (the CEO is relocated to live there) rather than pay exorbitant fees of Brisbane offices 5. Huge debt paydowns and rationalisations - through CASHFLOWS and not profit 6. Reduced BNU operating costs through engagement on new contractor charging 20% less
This is a guy who built Leighton. Enuf said
UNV Price at posting:
23.5¢ Sentiment: None Disclosure: Not Held
