Ann: 2014 Half Year Results , page-8

The problem is the way you prefer it offers all kinds of people an opportunity to take away money that would otherwise belong to shareholders.

If anything, profits from the ATC plant (which I can not see as of now) should be re-invested to buy the remaining 40% of the business. That will cost 7.5M if I recall correctly. Earning these 7.5M from HAZ's 60% share is going to take years anyway.

Show me one western tungsten mine operating at a profit!