Ann: Chairman's letter - Scheme of Arrangement, page-65

When Cliff talks of waiting for facts to come out perhaps they need to look at all of them stretching back years. What was the decision making process that led management to think they needed fancy office space costing them >$1/tonne? Rio, BHP et al certainly do not rent offices that burn shareholder cash at this rate. This business has torched cash relentlessly over its life on the asx and the takeover is nothing more than a lifeboat for the exponents to walk out with a swag and sit on a beach.