I don't know why you are getting excited by the quarterlies. All...

I don't know why you are getting excited by the quarterlies. All that 'income' is just part of the massive cashflow churn and when you look at the half yearly they would have made another HUGE loss if it had not been for a $2m "foreign currency translation adjustment". lol. Thank god the Aussie dollar is tanking!

On balance sheet gearing is growing to fatal levels and the doozy is that with this so called 'acquisition', I don't even know what the OFF-balance sheet liabilities are. I expect it will be much higher? Maybe more than 100% geared? Who knows? Not I.
But if the banks were reluctant to lend to this when BS gearign was non existent, how likely would they be to loan to it now? If you take this line of through further, then how likely is this 105tps going to be by 2023, never mind 2013!!! lol.

If I didn't think ASIC was doing such a good job of overseeing public companies I would be suspicious of the nature and participants of such opaque financial engineering as it leaves shareholders in a public company with absolutely no handle on the financial position of the company including this recent liability we have taken on.

Add to that the prior statements of multiple placements are much higher prices that never eventuated, bank loan LOI's that never eventuated, acquisitions that never eventuated, production levels that never eventuated, smelting tech conveniently changing constantly on the fly..... Well. Has Interpol looked into this?

It's always just around the corner. Just one more quarter or one more placement or one more change of business plans.