khetri, page-4

A "valuation" lol. All we know to date is Surda is still draining cash.

Im sorry Ive lost so much confidence in IRL, I really am. The undoubted potential of this company remains for the long term but can we last that long?

Weve been told many things by management that havnt come to fruition. Werent we ment to be cash flow positive back in April/May? Its now the 26th of Sept and still no confirmation about supposed profitability? How reliant on the copper price are we? Can we be profitable with a production rate of 4500 tpa and a copper price of less than $7000 US t? We just dont know.

I really hope my concerns are baseless. I sense in the interim however that even if Surda scrapes through to cash flow positive status it will do so only just.

The initial Surda deal with HCL has obvious long term benefits for IRL but to struggle as we have is concerning. Its one thing to get your foot in the door but we are yet to see at what cost this comes or if infact we lose our foot!

I really like reading all the posts here and hope we can all tap each other on the back come 2009.