GrandCombin You say:" negatives:- directors perceived to be not...

GrandCombin

You say:

" negatives:
- directors perceived to be not trustworthy
- court case with Bayan could go against WEC, or worse still drag on for years
- coal prices depleted
- institutions not wanting a bar of WEC"

But you did not mention any unforeseen debt or major unseen expenditures (eg mine rehabilitation).

I looked thro, the Dec 12 acc.s but, to my inexpert eye, I did not notice any overhanging adverse financial surprises; am I missing something?

I did notice that assets were about 3 X the cash; which seems extra good news.

All of which makes me wonder, and wish that I knew a bit more about accounting.

I agree totally with your summary:

"what would I do:
- share buyback at market.
- pay special dividend to long suffering shareholders
- start paying 5% yield on current shareprice
- sell off all assets
- wind up business"

Is there any chance of this?

also, do you know where all the cash and assets came from?

I notice that contributed equity was $490 m; so did all the cash come from this?

Its not an easy stock to understand.

All commentary welcome.