Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-20

Et tu, Brute? ... thought you were less prone to hysteria than most on HC.

Little soon for liquidation talk. A CR for $20M capex to get there would be more the concern i would think, if it's required? I'm sure TB will end up cashflow positive, including interest expense, with whatever solutions are required. Hopefully cheap solutions, implemented quickly, that work first time... unlike STA.

The quality of their zircon concentrate is demonstrably an issue atm, company says so. Lower TiO2 than design (ie less rutile to non-mag con), monazite worth very little, and now part of the steep discount is poor recovery to final product by NM-con refiners. Hopefully it's just a 'new product discount' and not a permanent quality issue'... unlike STA.

This is the same CEO who said the "oversize issues were nothing they hadn't expected" not long before admitting it was a material and possibly permanent problem? Hopefully Bruce remains optimistic to provide confidence as he should, becomes more upfront with the facts when he has to, but doesn;t become misleading, BS spouting clown... like STA.

Their JV partner is up to their nuts in this and need the Aussies to help solve problems. If KMS goes into administration they will get wiped out and FIRB won't let them take it over on the cheap. Maybe you confuse Yansteel who takes the Ilm-con with other parties who take the Zir-con?

I retracted my sell sentiment and made it clear where I think they stand.... marginal free cashflow next Qtr or two depending on multiple variables. Mining larger, cheaper but lower grade combined T1 & T2 ore faces to maximise monthly tonnes, while reducing costs, to help make up for HM lost to OS best way they can. Meanwhile we wait for news on the detailed sonic drill program ahead on the mine path, studies on the HM and it's quality in the OS material currently rejected, rectification measures then to be implemented and tweaked until a truly steady state is reached, LT Zircon product pricing, sustaining capex requirements and steady state costs etc.

It's a race against time for shareholders as much as what is the final solution (pun intended, matching the spirit of your post...).

Cheers