EQR Research BUY $0.12c upside 166%, page-26

Yes it will be.

The Quarry / re-treatment plant remains a major disappointment. Management keep throwing money at it but can’t hit their numbers.

They have been producing for 3 years and on top of the Cap ex they must have racked up over $10 million in operational losses.

Scottm posted back in May that 47 tonnes per month was cash flow positive and they would be increasing to 70 – 90 per month.

But the last quarterly showed that they got nowhere near that. If these issues continue into the open cut they are going to burn through a lot of cash with the head count they have.