Ann: Quarterly Activities Report , page-4

Good to see increase in cash.

Tailings income – not surprised zero, at the end of the day the tailings plant couldn’t recover the finer particles. Obviously Jim has worked out that the main game is the stockpile & hardrock funding. He’s not going to waste valuable cash on fixing the tailings plant until the bigger picture is organised. The tailing plant is still required, so we haven’t lost anything in the medium term.

I noted the comment – “advanced term sheet discussions”. Looks like they are waiting for the Mitsubishi sign-off which is probably an agenda item at the next Mitsubishi Board meeting, before signing any other deal.

IMO – this company will be different next financial year, then management will have a story to tell.