Good Point Lory . I reread that ...and now I am a little more...

Good Point Lory . I reread that ...and now I am a little more perplexed.

The release talks about cost cutting INITITAIVES and then goes to ONLY talks about employee reduction .

So then I looked its last activity statement where it made a cash outflow forecast for the next Qtr.

The total QTR ADMIN cash flow forecasted was $21 million!!
Which lead me to conclude that obviously the $19 million savings can't be coming out of there ...

And then if you look at the cash forecast the big numbers are coming from exploration and development ...around @25 million per qtr!

Conclusion : The whole release talked about employee reduction which is going to give only couple of million saving! The big reduction is in Exploration and development - which is either being cancelled/ postponed/ put on bcakburn. And the release does not even give one mention of that .....now that i call quite sneeky!!