Ann: Full Year Statutory Accounts, page-22

Hi,

My reading of the report is

Total capital required = $42.3 M + $39.1 M = $81.4 million (page 38)

Total capital available = $9.2 M + $72 M (US $65 M @ 0.9 AUD conversion rate) = $81,2 M

The only money required in addition to above is working capital say $10 Million

This money can be raised by DSO sales or another loan or CR - which is not too unsurmountable

The inventories are on mining and stockpiling costs and not at contained Cu prices.

I don't know what the fuss is being raised about - the company is going great guns.

If anyone disputes the above figures, please quote the numbers (and page number) from the annual report to gain some credibility otherwise it is all smoke and mirrors.