Ann: Annual Report to shareholders, page-29

Good point kickit2me. Trend lines indeed, to selectively make a point.

I note with interest your Y axis on 1 chart is in $200k increments and the other 2 are $500k increments.

Visuals do tend to work better sometimes.

Anyone note the long term trend between Total OpEx and Cash Rec? ( top two lines on chart) I do.... they are remarkably CORRELATED.


See any trend on statutory losses? After shed loads of CapEx get written off, and cost of financing and loan maintenance get taken into account... I do and it is divergent. That is our capital that is being lost. ROIC is unacceptable. If the rise in cash receipts was outstripping the rise in operating costs then I would be happy to continue making losses for years if necessary, but there is no evidence this is going to happen on the current trajectory.

This is the big picture.



I have said it before Kickit2me, I am not trying to ostracize you. I like that you are a champion for our collective investment. But as shareholders, we must get real. Look at the full picture.