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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Horgad who wrote (33504)11/3/2000 11:00:06 AM
From: pater tenebrarum  Read Replies (1) of 436258
 
bullsh*t.....they're nowhere near bankruptcy. the loss that was reported in the last financial year was due entirely to non-cash write-offs. they continue to be cash flow positive....and they're profitable on an operating basis. actually they have completed a huge capex program recently, and with the closing down and write-off of unprofitable operations the benefits should begin to flow through in coming quarters. production costs are now well contained at about $240/oz., and on their way to come down to $220/oz. overall. they've also restructured their debt and lowered their interest expenses by R.28m. annually. same goes for the hedge book, which has been restructured considerably.
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