carrying values, page-7

Your becoming very shrill with your arguments HoM. Maybe Red 5 are slowly closing your window of opportunity to attack their integrity.
As far as the above argument, why only quote the upper figure for AISC. The range was $740 to $790. A balanced argument would have taken the mean of these figures, US$765 or A$1093. If we use the present price of gold, this gives a surplus of at least $35 million to $40million when in full production. Plenty of wriggle room here. The AISC figures you quote for March/June represent a period of extraordinary events, restart up of operations as well as a major floor clean up. The figures quoted in the report are for normal operations for the rest of the pit life. Can not compare the these.
Always have had a problem with AISC as it includes depreciation and amortization of past capital work. In my opinion it does not represent the true state of the business. The cash flow statement tells the real story.