I think that had ACB not gone on the massive purchase spree, they would be in an ok position at the moment. But the purchase spree now has them supporting all these facilities with all this overheard, and they simply don't have the cash to support these operations. Its their high overhead that is dragging them down.
If ACB were able to cut themselves down to 2 or maybe 3 core facilities, I think they would be in an ok position.
Unfortunately, its going to be tough for ACB to do this - if it does, it will really hurt the share price and have spillover negative sentiment onto the sector. It would also drop them out of the Top 3 Big producers, maybe make it between 4 and 6. But, I think that ACB will be dropping out of the big 3 anyways even if it tries to hold the course as I don't think it will be able to continue doing business 12 months from now.
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