reported loss $577m-670m (goodwill writeoff provisions)= $93m...

reported loss $577m-670m (goodwill writeoff provisions)= $93m CASH profit add depreciation of $131M =$224m cash or cash equivalents generated to june 2010

$93m divide by 800m shares == to me about 11.5c PER SHARE CASH PROFIT generated in the last 12 months.Even at the new gas prices paying interest on $3Bn dollars.The killer was the back debt and payments that resulted from settling that.That is now GONE.

THAT WAS $93m WITH THAT INCLUDED.

So with no recap we can expect better over the next 12mo.

The longer the management delays the better the situation for shareholders. The fact is if they delay for the next 18 months WHICH THEY CAN DO- Then they will generate atleast between 17 to 20 cents per share i.e $120-$160m in CASH profits plus cashflow from depreciation of around $200m
To an idiot like me that will take our total debt down $350 to around $2550m assuming no further price rises and no growth in the business.
They have a 3% growth figure,so assuming they only get 2% after expenses on $1500m sales that's an extra $30m cash profit in the next 12 mo.That takes us down to under $2500m in 18mo time.
That adds upto around $300m in equity to me(35c ish/share).Plus our existing $450m=======750m,not quite 90c/share again.
$2500m debt at 9%=$250m interest/yr,where we are now.

Another year and debt down atleast another $300m

Do it again and that makes $600m

Each year our equity would rise by 35 cents a share.

So whoever controls ALINTA will be sitting on a capital gain/equity of $1350m i.e. lets call it $1.60 ish in around 4yrs

You can see why the wolves would like us to think we're more vulnerable than we really are.

The quicker they can get control the quicker they get the benefit of a highly profitable company's ownership for NIX and the impending growth in equity that is just a timing issue

Cawse resulted in a writedown of finance in this last 12 mo of just under $10m,so that will be booked as a recovered writedown,i.e.$10m profit writeback for starters.That is CASH as well.

Shove in a sale or two at a profit and we are further ahead quicker.

The reality of changing the structure of the company via restructuring,may result in no access to accummulated tax loss for hedge funds if they change the way the company is held with a transfer to a new holding company for example.
THAT IS WHY THERE HAS BEEN NO TAKEOVER SO FAR I BELIEVE

So they have to find a way to make it work through the trust/stapled securities.

The way it is set up at the moment ,any profit ALINTA makes passed through to the trust,would just be a reduction in debt and any payment from the trust to us would be TAXFREE return of capital as in the past.A great bonus if they controlled 90% of the stapled securities.
I SUSPECT THAT IS WHAT THEY WILL WANT TO DO---LIQUIDATE----so the first billion paid back from liquidating the whole business can pass TAXFREE TO THEM

If I WAS A HEDGE FUND AND GOT CONTROL I'D LIQUIDATE THE LOT AND WALK AWAY WITH MOST OF THE CASH----TAX FREE---as quick as flynn.

So they need a recap and management control,given to them by terrified shareholders.Am i scared-----Hearty HAHA

Keep up the good work management and thanks for the reassuring statement of a few days ago.It was the same as april statement when the same crowd?(or was that pacific capital partners) tried it then.