oops- court case pending., page-48

Hi Amiafish,

Totally agree with your statements. The concern now however is how long a medium term have we got until tin price recovery - and the requirement of someone providing the investment fund required to set up Lindsey.

Right now the BFS is history (tin price 23.8K, now < $20k, Copper Price $8K, now < $7K, Iron price $125 now ~ $70, Tungsten $392 now (not sure -anyone know?) say similar, $US 0.9 now ~ 0.86 so about 5% benefit here at least. We need to get the cost base down such as by increasing the resource base and/or resource quality to lower cost of production. This of course requires significant exploration - which we haven't had recently

Annual Report, cash burn ~ $1.5m on salaries/fees. Can we afford the management structure even with 20% reduction in salaries for 2015?

Oct Qtrly report ~ $5m cash left, so in 31/2 years we are history on salaries alone -unless we go for an extremely dilutive cap raising (based on current share price.) Adding exploration costs might/will reduce this time frame significantly.

Prior to virtually anything happening we require a positive appeal judgement. The last one took from Nov 13 until May last year. Potentially another six months of admin costs - god help us if they get leave to appeal to the High Court.

So all up we are waiting on a number of factors outside management control. The appeal, the iron ore price, tin price, copper price, $US exchange rate, Lindsey funding.
Factors management have some control over seem to need to be considered further - salaries and wages (high), exploration (low).

Sorry about this got Tuesday blues at the moment