Fibonarc I don't follow CCC much now so getting a bit vague on...

Fibonarc I don't follow CCC much now so getting a bit vague on the numbers but this announcement doesn't seem tell you much about CCC really. CCL only owns 60% of Vlak. Taking about BEE ownership, is it 24% from memory? then BCC listed company only owns 44% of VLAK.

Also of course, VLAK is domestic coal. That business has surprised on the upside. The problem is CCC is mostly about export coal and at the moment export coal prices have fallen to around $75. Many of use noted that BCC as a group couldn't generate net cash flows when coal prices soared to as high as $128 from memory. Coal of Africa which is a group BCC aspired too have put their thermal coal operations on care and maitenance for now.

Finally, I'm not sure about this term Gross Operating Profit. What is that? What else is there to be deducted? Really at this stage with no development going on at Vlak they could talk details on net cash flow to be meaningful.