nearly one billion shares on issue, page-32

Cut the rubbish, do the math. TAM's cash operating costs are well above spot gold price, therefore they are not making eps but creating negative eps. For those that don't know eps = earnings per share.

EPS pays school fees, buys new cars, and buys champagne for wive/girlfriends.

When do the cash costs at this gold operation fall below the spot gold price? (i won't call it a mine, all that has nbeen mined so far are shareholders pockets).

When does the company say it will expect to turn a profit? It's not a trick question.

Do your own research.