re: Ann: Sale of non-core assets to enable de... Lets ignore...

re: Ann: Sale of non-core assets to enable de... Lets ignore factless statements and again get back to the numbers and what the company has stated...

1) Just announced first set of asset sales of small non core assets which have allowed debt to be reduced by more than 10%....with more asset sales expected...hardly call that sort of debt reduction with further asset sale debt reducton expected per other assets earmarked as non core...

2) Company has announced expect to return to being cash flow positive from second half...after their recent history they wouldn't announce that unless pretty dam sure achievable

3) They have stripped some $30m already out of the cost base and will equate to annualised cost savings of $50m which will expect to see benefits not start to really flow through until second half...not to mention won't have to absorb the one off $25m restructuring costs they have had to absorb this half....

4) Capital iniatives in terms of raising certainly possibility at some stage as part of broader balance sheet strengthening initiatives but a) they have indicated more likely to be strategic investor if this option pursued which is much more stable for the share price..and b) doubtful will need to be as significant as others make out given scope for further assets sales of non core assets with positive cashflow position expected in second half to also be used to reduce debt...