when is the cash rolling in?, page-3

I think its that the potential is there for them to be rolling in cash, but not that this will definitely become a reality.

Point 1) Their estimated margins per tonne could go out the window depending on iron ore prices and if their cost estimates are correct. They have been wildly wrong the timeframe estimates for this project, so whose to say the costs won't vary upwards?

Point 2) While first shipment may be signalled for early 2012, its been stated that in a worst case scenario this shipment may occur out of Port Adelaide if the barge option isn't ready. This would simply serve for Ian and Co. to get their performance rights and for publicity. However the actual costs of doing so would mean a positive cashflow margin on such a shipment would be minimal.

Point 3) No Mining Licence approval yet, which means even if the potential is there to make a decent margin on 1 or 2 million tonnes per year for the first few years, it can't be done without mining approval.

The above 3 points coupled with potential capital raisings, performance rights, and overall market movements are all weighing heavily on the current share price. With any luck the initial MLA approval in July, or final approval in sept/oct will serve to be a reversal point for the share price and the start of a long and prosperous uptrend.

It was looking that way when the capital raising finished off recently and we were heading back through the 80c mark, however the general meeting resolutions soon squashed that and now were at 60c.

Patience is likely to be rewarded with this one, problem is there are just those few risks still to be ticked off between now and early next year.