Fresh From The Cupboard, page-11

I’m not surprised some regard ‘the Fish’ as the third wheel ej, as we are an Australian company run by American’s living in America and it appears that LNG has no commitments in relation to plant and equipment thus far for the site. I probably shouldn’t be surprised that GV, you and your fellow thumb upper’s regard the Fish as a minor overhead, maybe it’s just my observation’s that see the writedowns in value relating to the pre and detailed feasibility studies; project development; future production and sales etc should the project not go ahead.

When I read the company’s financial report I see total project development costs and other expenditure including lease payments were about $80M in 2015 and $13.5M in 2016 and Fisherman’s Landing’s percentage of this is not clarified, although the company does state that the future minimum commitment in relation to a photocopier purchased in November 2013 was $8,000.00 and (30/06/16): $10,000.00.

What will please me is that we will have to get an update from management regarding ‘The Fish’ because all I really want is to be informed on whats happening with my investment. In regard to ‘The Bear’, it’s next on the list.