Largely a lot of waffle. No chance of divvies whilst they pay it...

Largely a lot of waffle.

No chance of divvies whilst they pay it out in salaries. They do appear to be undervalued in some of these measures but to quote Luke Tonkin - these are figures loved by analyst but really of little value (I paraphrase). The main message i take from this is that they were scared by their near death experience and want to build up cash to ensure that they do not experience it again (i.e they nearly lost their jobs) - SH's are of less concern. Must say I have some respect for not paying divvies, my issue is that I really don't care if my retrun comes from divvies or SP improvement (i.e. TSR - Total Shareholder Return). My gripe is that confidence in management is low but they wish to aviod this issue by blaming such stupidities as the Pilbara gold rush - which was after the the massive share price - clearly it had no effect at all (the drop had already happened).

Yes they are viable now and also probably undervalued on the numbers. The issue the board will not own up to is that confidence in them is at at all time low and they now try to muddy the waters with irrelevancies to avoid the pain of resigning or as far as David Quinlivan (who was not involved in the debacle in 2013/14) getting rid of the good ol' boys (i.e his mates from Western mining days) and rectifying the confidence issue (like SBM did). Problem is that because of DQ's procrastination he is now labelled with the same brush and maybe the whole board needs to go before confidence is restored; particularly when he comes out with such (provable) irrelevancies as the Pilbara gold rush to justify the fall in SP.