Ann: Quarterly Activities Report, page-55

Hi youwishfood, thanks for your post. What do you forecast for net cash position at end of June quarter if gold production is 12 koz as Gravitywaves mentioned + there is some inventory of unpaid gold concentrate produced on site (as there is every quarter)? Also did you include the $5m loan repayment kicking in June q as well?

I do not believe WMC is going into administration, that is ridiculous to be honest given the concentrator is running well as you say. I think there is one more cap raise to come (or maybe another loan facility, but given the $55m AUD loan currently, that is unlikely) given cash position and the need for a working capital buffer, and I am watching intently on the sidelines for an entry thereafter. Look at GCY, they raised capital recently but were $10m cash flow positive March Q - they needed the extra cash purely for working capital.

CORNBRED