Ann: 31 Dec half year results update , page-7

So where do we stand from here? If you take the 6mnths to dec 31 and double it you get earnings of 1 cent a share! Giving us a current PE of 21. Undervalued on reserves , not so on earnings. The next six months should see a big improvemnt on the first 6mnths earnings but will the market see that and will management find another way to blow profits. When you look back it's quite incredible the profits they have jsut flushed down the toilet. Not least the last buy back. Over 4 million just wasted. Would of been better spent if they just invited all shareholders to a big p#@% up, bought 20K worth of grog and let us all throw bundles of 100's into a bonfire to keep warm.
Just goes to show now how important now Smolik well is.Todays results explains their enthusiam on that front.
Wonder if skitz can put some positive spin on this?Skitz