cy7all well & good putting the situation straight, but it was...

cy7
all well & good putting the situation straight, but it was the raising of need for all 5 stakeholders (co, labour, banks, local & state govs) to be unified that flags the biggest danger.
The mining industry is desperately short of labour & experiencing heavy wage inflation pressure so any jackboot attempt to lower those costs would surely see a mass exodus of labour to greener pastures.
With regard to the bank/hedge situation, they have CRS by the short & curlies. Rolling forward will do nothing but give CRS a few last gulps of air with which to find higher grades to satisfy the hedge (paying them out at this stage is a dream)
Kiernan has done the smart move by laying out all the problems & declaring reasonable asset values, BUT he has also prepared the abandon ship at no personal fault exit by introducing the labour imperative card