Meanwhile a scramble in Property

I find it slightly amusing and worrying that Australian Banks run into enormous broad lending into property at the expense of mining opportunities...time and time again they'd rather plunge into property lending and suffer from too much lending at very low rates and ...when rates rise ...the public suffers with rising interest rates..reduced consumption... and rising unemployment and recession...time and time again.

Mining in the meantime has learned ...Avoid Banks if you can..they are like the plague ..raise capital ...reduce short term debt...get to solid strong cash flow...and profits and borrow only through convertible loan stock ..do joint ventures to spread the risk ...or sell of some of your favourable mining assets to develop more favourable asset .Above all things avoid banks ...go for private capital....Now we can add a clearly new Green Political Negative to bank lending....Australian Banks will consider Oil and Gas but only if it meets their transitional criteria ...aren't we lucky they are keeping away from coal...Australian Banks have proved time and again....from the Swiss franc crisis in lending unhedged to farmers and almost destroying farming for years ...to housing crisis after housing crisis repossessing homes when people thrown out of work often through banks pushing many businesses out of the very work that employ them...a viscous circle of Poor ,Poor lending practices and panic control by repossessing of assets...Bad,Bad, Banking and why..simple ..Very ,Very few bankers are correctly qualified ...very few Bankers have adequate educational qualifications in Banking...in Bank Lending, Accounting ,banking Law or Investment.....just Clerks that wear a better suit...using the same old destructive banking practices .

My conclusion is our very smart CEO Mr Flynn a Chartered Accountant knows all about Banks and has for the most part kept clear of them for borrowing purposes ..now as a result of his previous experiences he may well have put us well ahead of them ...and a potentially coming banking problem again of the Banks own making " Excessive Commercial property debt and Excessive Housing debt" and excessive consumer debt built on housing equity loans...yes all these new SUVs .

Yes by picking the correct partners in Blackwater not only does he inject substantial cash to quickly move into a very strong cash flow position ....but with the right partnerships he opens up the opportunity to again introduce Equity placement or Convertible Bonds ( to Equity ) to develop WHCs much larger mine than Blackwater ...Progress perhaps already hand?...Indeed it is my view that he may well have something to say about such a possible outcome of a broader Partnership arrangement ..when announcing the New Blackwater partnership..."A very Canny man is our Mr Flynn." with our solid sensible board...all who are cutting good coal.

All I can Say ..Is "Stay with Flynn and you'll surely Win."