I find these reports bizarre.
They keep talking about how they would have positive equity and not made a loss if they hadn't written down their Australian and Mongolia assets.
But they did, and they did lose that money so what are they pointing out? That if we don't make the same stupid mistakes in the future we'll be ok?
They could also point out that if they hadn't wasted that money in Mongolia they wouldn't have the debt to pay on Friday. See how well that would go down with the bondholders.
Ann: Appendix 4E and Preliminary Financial Report, page-2
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