they definitely clarified the mt Waverly situation in the oral presentation. They pretty much said what I supposed which is that the business case is not there anymore in China and they are scalling back to just serve the Aussie market. So there is a write down on the asset. They hope to someday contract out there excess production capacity that they built. I think this has a reasonable chance of happening. But my god PGC would be in a dark place right now without that merger; they had a lot of future potential riding on that Production facility, plus PGC portion of the business didnt have a great year.
Ann: Appendix 4E and Preliminary Financial Report, page-6
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