Though I admire LT holders, optimism is not an investment tool....

Though I admire LT holders, optimism is not an investment tool. Even without industry knowledge, proper examination of the 2014 Full Year Results show that there is no fat left to trim, to make those numbers look any better than that. They burn more cash than they make, hence the constant rejigging of financing (4 in two years). They won't come out with a 1Q update, so we wait till July for 2Q news. Half Year Accounts, normally come out in August. Standing here with low IO, coal and base metals, its hardly rocket science that the current industry environment is worse today than it was 12/18 months ago. The slow death continues.....