Ann: Trading Halt, page-58

The reason is simple as 1-2-3. It's because there are three excavation teams working on removing the overburden on Ellensfield and only two on the operating mine. This has to happen to remove the overburden with the box cut. This has been clearly stated. Accounting in mining operations is different to most other types of activity. A lot of what I would class as capital expenditure is expensed immediately. If this was not allowed the mining industry would have all sorts of problems developing new areas. It took me a while to get my head around it to begin with as I am educated as a management/cost accountant among other things. Pay attention to announcements. A lot of us are like kids looking out the window in class. I was one at times.