@mondyinvest Agree with your points there. CXO is a top of the market marginal producer.
Having said that their new CEO lucas Dow got Australias most hated mine into production and knows what he is doing. One to keep an eye on.
@beav82856@patrickadownes Duncan has delivered enormous value to shareholders and barely skipped a beat. Good on him for taking some money off the table.
@patrickadownes So many shares on issue, mismanagement of their processing, cost blow out what felt like 5 mins after they gave us the costs.
Not a bad asset. Such a shame about the management.
Compare PEN to BOE. Both restarts, totally different shareholder outcomes.
@ShitValueFund Typical bank finance and mainstream insurance requires thermal coal expoaure below 25% of renvenue. Two ways to to that, cut coal or grow non coal, hence the Pybar/MACA buys and the non coal projects they have been bidding aggressively.
@ShitValueFund Mt Arthur is thermal coal. They have extended a thermal coal contact. Long term play for them is the rehab of that site which is in the billions.