the last quarter, page-17

"...painful watching the share price slide...". i am loving every cent that gets wiped off these scurvy dogs because:

1) they cannot raise money;
2) they cannot convert debt to equity;
3) it demonstrates the company is seen as not being able to generate shareholder growth or dividend return;
4) they cannot make money at $160/tonne spot because they're sending probably the lowest grade material of any australian producer and are lucky to get $110;
4) people are noticing that the number 1 prioirty for management is buying themselves new company cars and paying school fees out of their over-inflated salaries.

mate ? you should care about past performance because if you look at who chairs companies like IRL, SWK, TTY, and has served on boards including MON, SWA, MAL, etc, you see one name in common and that is Andrew Simpson. His record at returning shareholder value makes a drunken sailor on shore leave look like a fiscal conservative. Leaches sucking the blood out of near-bankrupt companies - talking the talk, never delivering.

buy up big, you're getting a bargain, mate.