Ann: 2017 Half Year Results Investor Presentation, page-27

Yea I know. hehe... it's core no more is what they meant.

Though it's bad, they still got those two bases in Asia. Seeing how at the moment, only 13 of their vessels are operating in Aus, might be an acceptable loss given the alternatives.

Let say they were to do an equity raising at the previous range of 30cents a share. They'll need to issue 173M new shares to raise the $52M they did with the bases and slipway. So while it's not a voluntary move, that loss is much better for shareholders than the potential 50% dilution of their holdings to get the same outcome - i.e. surviving the downturn.