Ann: Administrators Appointed, page-130

I am a finance guy not a mining guy so my understanding of BCM's, grade control, recoveries, operations, logistics etc is not the strongest (although I am attempting to grow my knowledge all the time).

I've never said this was a sure thing but I did think we had turned the corner in March. I think many did. I relied on information provided by mgt to model my own cashflows etc, however the mgt info/assumptions now seem incorrect.

What is the lesson I learned - do not allocate large % of portfolio to any company flying close to the wind, no matter how cheap/value you perceive to exist

Sentiment changed from Buy to None LOL