AlbertE,I suggest you take the supposed profit, then subtract...

AlbertE,

I suggest you take the supposed profit, then subtract the after tax hedging benefit. You"ll end up with a fraction of what HY forecast is.

Then I suggest you prorate that remaining profit across the Nth and Sth operations, after adjusting for the relative cash costs. I think you will then see a black number for the Nth, and a red number for the Sth.

I once again stand by my statement that the South Kambalda operations are currently at best marginal. All you need to do is look a little deeper than the headline numbers.

EL