Ann: Half Yearly Report and Accounts, page-9

Well all I can say is my BS detector has improved over the years. It failed miserably on a few notable companies and performed well on others. I no longer accept any form of investor presentation as a benchmark. They have always been a management tool for "selling" the company's prospects to potential investors. Unless you can breakdown the financials, compare that to the likelihood of what the future prospects might be (not what company says they are) and what needs to happen to "make it happen" you stand a good chance to lose your investment. You can of course get lucky.

On the subject of Shareholder Equity in the Balance Sheet, the bulk of it is Reserves and specifically Foreign Currency reserves which is really just the result from translation exposure given the fall of AUD from the circa 2014 highs .... would that be right???

Motto of story ... DYOR
Sideline ... beware of touts and spruikers

Contrarian views are expected.