Still life in the Mangy pup yet!, page-2

$300m operating losses on annualised production of approx 7 mt, ie. they lost over $40 a ton (I hate being right, almost to the dollar). They're also carrying $2.3 bn in debt, that's roughly $330 debt for every ton of production. Unless IO relays to over $100/ton for a sustained period of time AND they can achieve the $200m of cost reductions this one has no chance. It truly is marking time until Ansteel decide to take it to the local vet!!!