Ann: Results of Creditors' Scheme Meeting-AGO.AX, page-8

They finally get an opportunity to make some good money and pay down a decent chunk of debt and they've wasted it. Hopeless alright, By the time they finish the hedging obligations they have committed to this quater the iron price will be back to 40bucks.
Instead of making 20bucks a tonne right now, they have locked in about $4/tonne. What a booboo