Ann: Quarterly Activities Report, page-2

What do people think of the new accounting method applied in this Quarterly. They have now started showing the cash costs and realised Sales figures in AU dollars. And finally, they have been a little more transparent in what is included in and what is excluded...they have cleared up a few items for which we have been speculating on for ages.

The sales realised in the March 17 quarter was pretty good - average price of AU$131.78 (up from AU$112.54 in the Dec17 quarter). That's quite encouraging...noting of course that the IO price has since dropped during April.

At AU$131.78 you can't tell me that Karara is not making money. Now whether it actually covers the debt repayment schedule is another question.