Ann: Quarterly Activities Report, page-89

This stock is cactus.
Holding this stock is gambling. Not investing.

As soon as that $20 mil debt facility from Ernie was announced it was 99% game over.
Ernie is a smart guy (but no miner) and he will end up with the asset that has had over a billion $ spent on it for cents in the dollar.

Maybe in its next reincarnation he can have proper management running the show.
Maybe he will keep it private like a lot of the other Bowen Basin miners are.

MAX are gamblers. Going to get burnt.

All imo.