sadly @Vince, I'm not convinced the quality of this report is much better than previous.
whilst flavio was at the helm, they bent accounting rules to suit resulting in an understatement of the amount borrowed ex NAIF. the understatement was around A$36m. I raised the issue with Flavio suggesting it probably wasn't a sensible disclosure but in hindsight, I think the lure of a bonus was ahead of any contrary discussion
Even in its darkest hour (before presumably a new dawn) the current authors have again understated the NAIF facility ... I think at the end f December they weer owed closed to A$140m and not the A$104m they have shown.
Not sure if this means the new guard are just the old guard with different hairstyles; not sure if there is not a further A$36m to be written of Coburn; just not sure.
Have a great day
PS I like your LinkedIn post ... seemed a little angry, but pretty failry pointed
STA Price at posting:
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