Post by
bond46 on Feb 22, 2013 5:30pm
Redemption of sins
Ken Bates, you carry a lot of sins on your back, to use Biblical language, it's time to redeem them and get these Marret monkeys off our back. When you needed money to play with your toys at the farm, instead of issuing stock, even at $2/sh, what did you do? You sold the coal asset in BC, and you went into debt knowing you had no revenue and no source to pay even the interest on these bonds. Now these stupidities have come back to haunt you and all the shareholders whose stock has turned to dust. You can not be absolved of your responsibilities and say " who me know nothing". You must find a way to sell assets, whatever assets, to pay Marret and get them off our back. you just can't blame everything on the market, the responsibility lies squarely on you and the choices you made in the past. Yes, the market may not be conducive to things getting better, but the individual initiative has a role to play here as well. To play it dumb and let the "market" decide, you're dealing with the problem in a Bad Faith and I'm sure there will be a day of reckoning, if and when an AGM takes place. So the circustances call for a redemption of your sins and to take the Marret monkeys off our back. Period.
Comment by
miner8740 on Feb 24, 2013 9:38am
cannot sell the pumps need them to keepo the mine dry for the bondholders who will take over at the end of month