Ann: Mt Cattlin Shipment Update, page-244

they could have easily made this a positive announcement which is annoying given the bleeding we have. A mention to Yeild Optimisation, Production etc... Clearly they are still not concerned about the share price and you got to remember AT and MR have over 15m of shares worth more than 20m AUD.

The fact they are not concerned should make us less concerned. 20m is alot of money for them.

The reality is the lower the share price the better the options.

But more importantly, the share price will find its value as information is released.

This piece of information may even be a positive as it takes out the unknowns. 45kt is produced, the last 15 is in july, so what, 20 days late. Nevertheless the profit they made is 9m representing an annual ebit of 36m. The at risk market cap is 100m, so the P/E on one asset