Nothing is safe, page-16

BND is dead as I had predicted months ago if you care to revisit my posts. Tell me one company you know of that has survived a VA? Furthermore, tell me one company that has returned shareholders funds when it has gone into VA.
The biggest problem and the knockout blow was it's commitment to WICET.
It is apparent that management did not foresee coal prices depressed for this long. They made it very clear in earlier announcements that they were not concerned with the coal price of 2012 but rather in 2015.
Unfortunately for BND, it was in the right place at the wrong time.
BHP are in the business to make money, not to purchase stranded "greenfield" assets. They have been divesting their coal assets as far as I was aware.
Coal is dead, many more explorers, small producers will follow suit.