If I were a Whyalla iron worker I would ask how much much of a...

If I were a Whyalla iron worker I would ask how much much of a cut is management taking ? It is their incompetence and cowardice that has resulted in the company being on its knees. Much of the 10% being asked for has potentially been awarded by the company the last three years or so when the share price was collapsing, a smart and cost focused board would have demanded wage freeze across the company back in 2014. As it is the workers are supposed to get a 3%(unbelievable when you consider the situation) increase in the next few months that was negotiated back in 2014.

To date the board have offered to give up nothing, they have no shame and give the appearance of greedy incompetents with the snouts in the trough slurping the Arrium double cream. You need real leaders in a time of crisis. Their panicking behavior when the ship is sinking including potentially destroying shareholder value completely with the GSO deal and running to the Government for a hand out after wasting millions on poor expansion decisions, incompetent/contract/supplier/ union negotiations and the use of advisers is utterly disgraceful.

Bryan Davis when asked at the AGM in November 'why he wouldn't resign, he stated 'that he wanted to be part of the solution' which is double speak for 'I have a hide as big as willy the elephant and I want to milk every last cent I can out of this company because I know at 70 years of age due to my history of destroying shareholder value at Arrium and other companies this is the last board gig I will get.

This is the leadership that the shareholders have to deal with, something which has to change in November if the shareholders have any voting power left.

Enough of stating the obvious, positive announcement from big Mal today and let's see us hit 4c.

Amazing we're over the moon if it hits 4c when the last capital raising a few years back was 48c........