TeTeTe, it was actually due to impairment of US assets that...

TeTeTe, it was actually due to impairment of US assets that brought net profit down.

Iluka recorded a loss after tax of $62.5 million (2013: net profit after tax of $18.5 million). Included in this loss was a non - cash impairment charge of $86.5 million after tax (announced 12 December 2014)

underlying profits would have told a different story altogether.

Also i've really liked the management as they've shown discipline in purchasing assets as seen with the sri lankan ones and also with Kenmare - should it proceed. I understand that Kenmare seems like a dud because it is not generating net profits but when they bought into metalysis, everything changed. Kenmare has one of the largest ilmenite mines in the world and metalysis has the cheapest titanium process in the world - reducing cost by 75% compared to kroll process. Yes, its a long term thing, lots of moving parts but the returns could be huge as costs to produce titanium will decrease and drive demand. Most companies would sell assets or undertake massive dilution at this stage , low in the cycle, because they need to shore up their balance sheet. eg. Arrium. u dont see this problem with iluka.

hey maybe u're right. going short might be the right thing to do.