Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-15

So much doom and gloom here...unbelievable.

Many people, including myself, did not expect trial discounts, but in hindsight we probably should have.

From an accountant's point of view:

I added the export finance to the operating cash receipts and got 12.3mln which divided by 30,000t is about AUD410pt or USD271pt.

Export finance facility is revolving so no need to panic. It allows them to have access to funds earlier then would have been paid by customer.

Production cash costs include 16,000t almost ready to be shipped. Last quarter it was less from memory.

Not sure why anyone would say that this company is not cash flow positive.

Regarding debt comment, I think it is positive that they didn't refer just to NAIF. NAIF can be both debt and equity. This time they referred to any debt, whether NAIF or bank debt. NAIF debt would be at market rates any way. What it told me was that they are confident they won't need equity for expansion which is positive.

Anyone who is grabbing shares at current prices is a legend. 12c stop loss level got hit. I wish I waited before buying at 15c a few weeks ago.

Full-year results will flush out all the questions.