NZ Oil & Gas (NZO)

[777]

making handsome money off money it lent them in the first place this is not a good lending process. If PRC doesnt become profitable it doesnt matter what interest rate NZo get of PRC they simply will not get back the principle they initially lent them lol.

So all this coal is just going to vanish, is it?

[Logen Ninefingers]

making handsome money off money it lent them in the first place this is not a good lending process. If PRC doesnt become profitable it doesnt matter what interest rate NZo get of PRC they simply will not get back the principle they initially lent them lol.

Exactly. And we've got talk of "no more unexpected problems". This is the constant that's always being harped on, yet there are always more unexpected problems. What happens if the hydro-mining equipment beaks down?? What happens if they hit another graben?? What happens if the continous mining machines break down?? It's a catastrophe, that's what. Because Pike has no cash buffer anymore, and no earnings to speak of. All the cash from the capital-raising(s) is history. They are running on NZO bail-outs just to keep operating, and getting more in hock every day. Which means any problem stands to have a huge impact on the mine's ability to keep going.

I'm sorry, there is a big risk factor here for NZO. NZO's future has been staked on a coal mine. All the oil and gas success is being over-shadowed by PRC. If PRC continue to perform as per their track record, no-one is going to want to buy their stake in PRC.

[Logen Ninefingers]

So all this coal is just going to vanish, is it?

"The coal is there" is a nonsensical argument. It's like pointing to the sea and saying "the fish are there", while your fishing boat is aground on the the rocks, you're nets are torn to shreds, & you've lost your keel. The coal has always been there, but it has to be got out, and profitably. So far a project that was supposed to go from start-up to full production on $75 million has gobbled up several times that amount, and all they have to show for it is 40,000 tonnes of coal shipped. NZO's result each year is being impacted by a loss from PRC. NZO is pouring money into PRC, and NZO's SP is suffering because of the (increasing) amount of risk they are being exposed to. These are the facts of the matter.

[777]

And your glass is half empty I guess.

[bung5]

"The coal is there" is a nonsensical argument. It's like pointing to the sea and saying "the fish are there", while your fishing boat is aground on the the rocks, you're nets are torn to shreds, & you've lost your keel. The coal has always been there, but it has to be got out, and profitably. So far a project that was supposed to go from start-up to full production on $75 million has gobbled up several times that amount, and all they have to show for it is 40,000 tonnes of coal shipped. NZO's result each year is being impacted by a loss from PRC. NZO is pouring money into PRC, and NZO's SP is suffering because of the (increasing) amount of risk they are being exposed to. These are the facts of the matter.

You say this like there is a better option for NZO. It would be a very stupid mistak now to ditch PRC after over 10 years of work to get to this point. Just relax.

[Logen Ninefingers]

And your glass is half empty I guess.

That's the dishonesty promoted within corporate culture. Most of the people rising to the top are driven by the pursuit of money and power, and lack empathy. They have big ego's, pride themselves on positive thinking, and get so locked into this mind-set that they lose objectivity. This is how Pike, with it's constant optimistic forecasts, got itself into this mess. I bet they couldn't find one honest guy prepared to risk his future promotions and big pay packet to actually speak up and be honest about the situation. Everyone from the bottom to the top is locked into saying what everyone else wants to hear, and if you step out of line you're 'negative'....you're out. .....And when things turn to custard, the ego-freaks at the top can't understand it; everything and everyone gets the blame but them.

Even now, with PRC lurching from debacle to crisis at every turn, we still get the same spin and exortations to "think positive". Think honest, think accurate, think real: don't be a sheep.

[winner69]

That's the dishonesty promoted within corporate culture. Most of the people rising to the top are driven by the pursuit of money and power, and lack empathy. They have big ego's, pride themselves on positive thinking, and get so locked into this mind-set that they lose objectivity. This is how Pike, with it's constant optimistic forecasts, got itself into this mess. I bet they couldn't find one honest guy prepared to risk his future promotions and big pay packet to actually speak up and be honest about the situation. Everyone from the bottom to the top is locked into saying what everyone else wants to hear, and if you step out of line you're 'negative'....you're out. .....And when things turn to custard, the ego-freaks at the top can't understand it; everything and everyone gets the blame but them.

Even now, with PRC lurching from debacle to crisis at every turn, we still get the same spin and exortations to "think positive". Think honest, think accurate, think real: don't be a sheep.

One of your more perceptive posts Mr 9fingers - well done

[Lion]

One of your more perceptive posts Mr 9fingers - well done

Sorry, disagree

[Logen Ninefingers]

Sorry, disagree

Awww, don't be negative.

[Lion]

Awww, don't be negative.

Oh, sorry to offend you Logen, I just can't help but be negative about your negativity.