Ann: Third Quater Activities & Cashflow Report - , page-2

re: Ann: Third Quater Activities & Cashflow R... Seriously what are these guys smoking... one report says this

Until the respective equity interests in the project are established beyond dispute, Thundelarra believes further exploration expenditure would not be in the best interests of its shareholders. Consequently expenditure continues to be limited to basic requirements to keep the lease in good standing.

Another says they are looking at doing some more exploration = spending money at Red Bore.

One announcement says lets drill Allamber (and so they should it looks like it has potential) and another we drilled Sophie Downs instead- didn't bother to look at it for 5 years but now it's suddenly a priority. Didn't bother to consult with the people that pay our salaries either.

Pyramid was one of our top 3 and we deselected it but we didn't bother to let our shareholders know for 6 months that it was no good.

If I did that at the company I work for I would be shown the door for incompetence.

I know what is not in the best interests of shareholders - this management team. At least they have finally done something about overheads but it's been obvious for years that their cost base was way too high and it took this long to get some action. Better than late than never so I give them so credit for that.

I don't know how they get away with disclosure requirements. A blind man can see they don't have enough cash to see out the calendar year and yet no mention whatsoever in the "cash-flow" report about how they are going to maintain solvency. Get ready for the CR. If was the auditor I wouldn't sign off the accounts - based on that cashflow report this is not a going concern without the continued support of shareholders. And I don't know how they are going to fund the legal action on red bore with only $700k in the bank.

I doubt I will support a CR this time. No point throwing (more) good after bad and the difference between 2-3c and zero is not enough to worry about - unless they can give a clear signal they are going to win on red bore.