Lays people off, rehires, runs out of cash again, lays people off. Cruel and unusual punishment for employees in order to keep up appearances. I give it six months after hearing DF plans on Sky for expansion of more of the same type of stranded low grade iron ore business that landed them in the stink this time.
The cash flow statements will tell the truth that everyone is avoiding. Benchmark prices of 60/tonne are not what AGO receives and somehow without any rail and low grade, we are supposed to believe its costs are now competitive. Apart from no longer handing out shareholder funds so that their contractors can make excellent margins, what is different?
Ann: Landmark Deal On Costs - Mining Back On, page-68
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