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2.9¢ bounty mining limited

Ann: Quarterly Activities Report, page-17

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Maverick1975

468 Posts.

67

01/02/19

11:37

Post #: 37297435
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Originally posted by Thanky: ↑

I'll be surprised if an offer comes in at anything north of 10c. Give this a few more months and they'll owe $20m and may still not be cash flow positive with good exchange rate and high coking coal prices.

Only way this is worth anything in my view is if after diligence they really think the reason the mine isn't operating better is because of the Board. The Board don't operate underground so it's hard to see it really just being them. They are responsible for pumping up the tyres as hard as the did in the IPO though, clearly some smart people in the coal game got sucked in.

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I think this is spot on.
Some mines just don't work and should never have been developed in the first place.
I know the take or pays and coal price crash killed the previous chinese owner but the operation wasnt exactly running like a sewing machine either

B2Y Price at posting: 8.6¢ Sentiment: None Disclosure: Not Held
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0 Great analysis

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