Ann: Quarterly Activities Report , page-24

being bored and given that we now seem to be getting reliable numbers and guidance i decided to do some analysis of the quarterly numbers.

march qtr vs ave. of the 2 prior qtrs
revenue up 99%
prod costs up 8%

june qtr forecast vs ave. of the first 2 qtrs
revenue up 118%
prod costs down -3%
admin costs down -73%


normalised qtr after filter is up and running.
assumed revenue doubles
assumed prod costs decline by 15% (incr. filter efficiency per mgt guidance) from june forecast then add 20% for doubling of volume
this gives me $1.67m positive cash flow per qtr or $6.68m annualised (excl. tax incentives)

this is before mining the landfill,selling all the al80 and still includes i assume processing of partly processed slag i.e. prod costs are still inflated.

not too sure when the new alcoa agreement impacts receipts.

anyway lots of assumptions but the numbers are heading in the right direction and it looks like this could be a healthy little earner after all.