Ann: 2012 half year financial results announcemen, page-33

re: Ann: 2012 half year financial results ann... GOOD

23% profit margin
NTA per share increased
Ankata feed is now being used
Full production at Ankata by end Sept
Rumania not at the fore front of their minds. (Read off the radar for good)

BAD

Forecast C1 cash cost revised up
Dividend less than expected
Underlying NPAT $70m or 36% less than June 11 due to lower revenue and higher costs

UGLY

Share market reaction

UNFORTUNATE

Receivables were $120m > June 11 ==> impacts on cash flow
High waste stripping and reduced copper mined
Paid $6.4m in cash tax in June

HT1