Ann: Quarterly Appendix 5B Cash Flow Report, page-18

Fully understand how cash v accrual works. A mineral producer shouldn’t be having large operational expenses that effect 50% of the quarterly costs for the same production unless there has been a material change in creditor terms.

As you say it may be they have barely any payables at 30 June as they have paid invoices outside of the usual billing cycle or there has been some large capital or operational expense but it should be addressed in the report to explain it.

How can you have $6-10m pq for 24 months and then drop a $5-9m increase without even a single line item in the quarterly report to justify is beyond me.