Ann: Expected Impairment of Carrying Value of Karara, page-22

Digby, $10m in total assets would be all they had left, but I don't seriously believe that scenario will actually happen. I'm just saying the announcement paves the way for it to happen. They might surprise everyone and suddenly sell Karara for a sum which enables them to write back a portion of what they have written off. Companies quite often do that.

And the current SP implies today's announcement is overly pessimistic.

I've sold my shares, but others are buying, so go with your gut.