RE: Year in review
Brundall
Excellent summary of the year.
My concern here is shareholder disenchantment with mgmt. It began with the 2.75 offering a few months ago after an all thumbs up at the AGM. You try to get past it and then you are hit with several 1M option grants with immediate vesting issued below mkt value (the employees lose a tax deduction because of this - but who cares its a multimillion dollar cheque) which is 7 months after the march grant.
Read the Jennings report from yesterday - they mention the 3M run rate slipping into Q2. Jennings to date has taken everything mgmt has told them and believed it (ie production guidance, contract signings, timing of longwall studies, enough cash on hand) etc so even they seem to be questioning mgmt (its about time).
Worried about my beans
Pasta