Ann: December 2021 Half Year Report and ASX Appendix 4D, page-9

no I don’t think so

simberi is a big loss maker and has Covid issue but if it doesn’t make money or at least break even with a clear outlook for sustained profits they should review it - earnings are not reliable despite many studies and forward plans

personally I think the underwater tailing disposal there is appalling - not allowed here- so why Ozzie company does it in someone else’s country sorta got me stumped


Gwalia at least making positive move- thank god after amount and time spent but isn’t consistent and needs more capital over time - no point stopping that production line

Atlantic bearly making money but still positive only just

risk is like the div that should not have been paid last time imo is they come clean and write that puppy down materially - any forecasts have been way off and they have to at some stage mark to market imo - that will punch a hole in balance sheet lifting the risk of requiring some sort of capital restructure

Expanding Net debt and large deferred liabilities imo are a glaring issue and unless there is a stunning turnaround at Atlantic I expect to see a material wrotedown in its value at some stage this financial year - how it wasn’t done this report seems at odds to true and fair view to me

anyway some good covering off low helping a few reduce exposure I guess

good
Luck ppl