AJ,
I have read many of your posts, so I'm sure you are just pretending that you don't understand basic mathematics and accounting principals. But for those that may not, let's make it really simple. Depreciation is a tax deductible 'non cash' item, so it will appear as a 'cost' in the financials, but does not actually cost cash.
How do they get so much cash? You think it comes from prepayments. I think it might be the surplus cash that the company is generating. Using the current low IO price and the highest all in cost it works like this;
165,000,000 x $4.6 (US) (IOP $43.60 - $39)
= $759,000,000
At IOP of $50 as it has averaged for most of the past year, that amount was $1.8 Billion.
AJ, I have read many of your posts, so I'm sure you are just...
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