alluvial tin ramp-up & full year profit

Baggy, you missed the most positive news on page 16, this tells me ;

1) no more cash demands on shareholders until 2014 ( short of tantalum project finance being secured )
2) sale of non core assets - " focusing " = CASH
3) tin production is to be ramped up = CASH
4) strong support by major shareholder = CONFIDENCE IN PROJECTS
5) we actually recorded a profit in 2012.

We also still have results due to arrive from Eritrea drilling which is proving a rich mining field for Australian companies.

I am feeling considerably more confident with just Gandel & Starink running the show. The only other matter I would now like to see addressed (& it has been partially flagged) is for ALL the Wadi Allaqi tenements to be sold or JV out.


"The directors have prepared a cash flow forecast for the period ending 30 September 2013 which indicates that the
current cash resources will not meet expected cash outgoings without additional capital and / or debt funding. The directors anticipate that this funding will be obtained through a combination "of some or all" of the following:
• Short-term funding of $800,000 to be obtained from Ian Gandel or his related party by way of loan funds to be
provided by December 2012;
• Realisation of non-core assets by March/April 2013 at amounts equivalent to the carrying value of those assets
at 30 June 2012;
• Successful ramp-up of the Alluvial Tin Project, increasing revenue and cash receipts from March 2013 due to a planned upgrade of its plant facility in December 2012; and/or
• Further capital raisings and / or debt funding.
The directors are satisfied that they will achieve the matters set out above and therefore the going concern basis of preparation is appropriate."