Ben, I am off the view that Northam would be a struggle to sell off at present without a committed off take. Merchant is flimsy and as I have always maintained, I’m not sure the numbers work.
However as you rightfully point out, we wouldn’t know because CCE have never adddressed this elephant in the room. No transparency or disclosure.
If the same people did the numbers on EMC are the ones that built the business case for Northam and GIMG, god help us!!!!
If was an Indigenous Business Australia and Bookitja board member, I would be extremely uncomfortable right now. I’m not surprised MPower didn’t want to take Northam onto their balance sheet.
Frankly I would be surprised right now if Northam is even finished.
The whole situation stinks!
CCE Price at posting:
2.2¢ Sentiment: Sell Disclosure: Held
