Yes, seems with all his thorough research, accaeric failed to see that the seawall has collapsed at Koolan Island.
Koolan Island hold 75% of their resources, so if they lose that mine, the company is pretty much stuffed.
(pg 21 of Annual report 10/10/2014)
As for no debt, what about the $315m owing?
Trade and other payables = $125m
Deferred tax liabilities = $145m
Provisions = $45m
(pg 49 of Annual report 10/10/2014)
