bottom should be coming this week, page-26

Bongpsumera you do realise that this tax will be taxing us at 40% on our operating margin? Interest and depreciation is not deductible on the operating margins. We are then TAXED again at the company rate of 28% (wow thanks for the 2% decrease).

Basically it will mean we are taxed at about 57%. Utterly ludicrous. This coupled with China's tightening of credit means all Australian mining stocks are falling knives.

I have no doubts Karara will continue and not be mothballed, however future expansions maybe hindered, as is our once robust profits. I haven't updated any of my models yet, but it won't be pretty.