Here it is...
Pretty disappointing imo. Rigs down, shifts down - revenue therefore obviously down. Increased gold drilling not enough to offset slower met coal (even though prices are strong?), loss of Olympic dam and SMS...
And speaking of SMS, another $2.3m impairment takes the total shareholder bath to $9.6m. Even at the last quarterly the total outstanding receivables was $8.5m. This was at contract termination so not sure where another $1.1m popped up from. I guess at this stage it doesn't really matter... Haven't been following the court case anymore but I assume they'll be amending their claim.
Not seeing too many positives here. Can anyone else spot some rays of light?
Ann: Quarterly Investor Update, page-2
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