Ann: Quarterly Activities / Cashflow Reports - J, page-4

re: Ann: Quarterly Activities / Cashflow Rep... it's a fair call you make vayama, and something that must have occured to all holders over the past few years.

i note the menzies and binduli projects appear in the quarterly ahead of julia creek (which i don't think was the order of presentation earlier), perhaps this means we are really a gold company rather than vanadium...

it would seem that the chemical engineer mick ruane has conceded he can't advance julia creek by his own prowess alone, in this quarterly the only new julia creek snippet i could see was "an additional metallurgist has been contracted"

on the plus side, we burned half a mill in the quarter and still got 3.8m cash, so no dilution likely. menzies will get the cash in while we wait for julia creek.

vayama, the money you got riding on this pales compared to the amount dr ruane, he aint buying IRC scrip as a show of confidence to the market (if he was, he probably shoulda stopped at less than the one-third of the company he now owns). ruane is an old man (time running out on him), something WILL come of this soon - he has a wife to answer to if IRC goes nowhere.