quarterly out... includes phosphate progress , page-3

After successfully buying up over last few days expecting a solid report for the quarter have found the report to be very concerning:- such as

"Metals X is just coming out of a major phase of project development and capital investment. The Renison
Project is now moving through ramp-up to full capacity which has been slower than anticipated, but is
expected to be achieved midway through the December quarter. The project is now generating regular cash
flow and at current prices is expected to improve to be a positive cash generator in the December Quarter.
Significant focus at the Renison project remains on productivity and efficiency outputs, the reduction of
operating costs and increasing revenue"

"During the detailed engineering and feasibility study Metals X is continuing to review the Rentails operating
and capital costs as they come to hand and optimizing the flow sheet as required. The project economics
remain positive, however in general it should be noted that although the final capital and operating costs are
not available, both of these costs have significantly increased from the original scoping study mainly as a
result of flow sheet modifications and the change in costs of materials, construction and labour"


Cash is now very tight, Renison (our anticipated cash cow) EXPECTED to be cash flow positive this quarter!! Rentails needs a partner to go ahead, copper circuit to costly!! And the big untold COSTS! clearly well above the 8.5k pt
in costings, but clarification avoided in announcement.

Wingellina has great potential in distant future.

Being able to to generate substantial revenue above production costs for Tin is our imperative at the moment and this is certainly not shown in information out today!