I don't know what you were expecting, Firsova, but a $49 million...

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    I don't know what you were expecting, Firsova, but a $49 million operating cash outflow looks pretty grim to me.

    How much of this is due to management, not the market, I don't know, but I reckon they have done well to persuade the banks to keep the show on the road at all.

    The price for that is that the hybrids are left hung out to dry, but what alternative is there ?
 
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