new directors, page-21

timber1956

I agree with you and am not holding my breath. However I also consider the fact that the directors at the time were doing there uptmost best to advise shareholders that Redbank had no value and yet the independant expert that they engaged said otherwise.

The directors at the time were in a rush to close out the restructure and sell out shareholders and their view was based on a fire sale of the asset.

The other thing that is heartening is that Bronte have ex Alinta managers who know the asset well and probably know what needs to be done to restore the value in the assets as apposed to directors that were trying to sell the business up. With this in mind I believe that there will be some form of recapitalisation lead by Bronte with nice big fat options for Bronte to extract value.

There is no value in an asset that has to be sold, however if the asset can be stabalised (which I believe the Bronte team can do) then the business has options and its value increases.

As for the carbon tax, there is a lot of water yet to pass under that bridge and I don't believe it is all negative otherwise the mining investments we have seen would have come to a complete freeze.

I agree with pcockley, this is one to put in teh bottom draw for now and dust off when a few more annoucenments come up. The fact that there is little volume only suggests taht sharehodlers expect something more.