Ann: Appendix 4C - quarterly September 2013 , page-5

skatie,
It is heartening to see KR stopping the cash drain ....This is admirable for an outfit with no "real" business yet.
PW in his "flamboyance" & extravagance chewed through Nippon's $5m in a couple of quarters....The market was not too kind to his lack of vision.
As we stand...
# INL has some cash that is not evaporating quickly.
# Has some other assets that may be realized at some stage (Zeehan Zinc Slag/BSM)
# Has some IP that could be useful with the efforts of 3rd parties , No expense in maintaining it.
# Has management with a different vision.
# Has new large shareholders with vested interest.
What it lacks at this stage is a sustainable profitable business....this will change in the near future.
Worthwhile holding to see what emerges from the rubble.....I think we have seen the worst.....Whatever comes will be better than bad.