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colshrapnel

243 Posts.

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02/12/18

20:03

Post #: 36722405
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Originally posted by Jrdbull ↑

Thankyou Jadybi for the insights and feedback on the AGM.

I agree the tone has changed dramatically which I think is a really positive, however the board (past and present) will need to atone for the massive erosion of company value and shareholder losses.

Im sorry, I cannot forgive what is either a) gross incompetence or b) fraudulent and deceptive behaviour.

The issue as I see it now is that the cancerous business that created this debacle still exists. It’s a huge burden for CCE to carry until such time as it is offloaded. Plans B, C, D don’t exist and given what has happened with MPower we know that there is no value in EMC.

Further there is even less less value in EMC now that the exiting Executive Director John Davidson has started a new off grid business in the old EMC / CCE building in Broome. How that is allowed to happen is beyond me.

Don’t be fooled, the idea that the sale didn’t go through because condition precedence weren’t met is (in my eyes) bullshit. MPower will he waiting for CCE to go into administration and then pick up pieces from the administrator.

Any potential suitors will be looking to do the same

If you read the TAG release, they are blaming CCE and vice versa. I liken it to buying a residential premise. You place finance as s condition of sale and if for what ever reason you don’t want the sale to proceed, low and behold, your finance falls over. Getting the addition 400k to make the project move forward is not a big step but was dressed up for what ever reason so that it will fall apart.

I hope for all concerned I am wrong but I cannot see how CCE can carry on beyond the next two months. Short of a very large company coming in over the top with guarantees, given everything that has happened, I would be extraordinarily surprised if the WA government backed what is now such a risky and contentious project.

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Doesnt John Davidson own 10 percent of CCE? Why would he want to knobble them?

CCE Price at posting: 0.7¢ Sentiment: Hold Disclosure: Held
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ABC News, page-7

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