Suchislife
ROC share or Beibu is 60 million odd. It's balai project of which they have already contributed 16 milion to will be paid back with interest. They have 50 million usd in cash including divestment funds.
So in 2012, not only will they be producing circa 8000-9500 due to beibu but they will also have over 100 million invested in beibu which ofcourse will all be coming back. My point is I distinguish between the Beibu spend which will drive extra production and the Balai cluster which will return capital in a different way. The balai funds can be looked at as banking funds In the bank as the expenditure is not sunk costs. I think ROC is trying to help the market make the disinction by adding balai spend in the investment activities area vs expenditure area
If we do recognize balai as an Inv then the. " real exploration development expenditure is on beibu, the rest is in essence deferred cash accumulation
Given ROCs strong balance sheet I wouldn't mind seeing a couple of acquisitions
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