Reserves and resources statement this year is critical. I...

Reserves and resources statement this year is critical. I honestly hope there is some good news there, because it is needed.

I've had a good review of the report and totally agree that it is much improved from the previous year.

Total loss is lower.
Net debt is down.
Liabilities are down.
Gearing ratio is better.
Revenue is up.

But the reality is that with $44 million in liabilities, the next year is another hard slog just like the last one. Yes, Karouni has done well and we have avoided financial disater in FY18 but another good year is just going to keep us treading water. Trade payables may come down to $10 - $15 million but there won't be much for exploration at 75koz. production.

Exploration will provide long term (longer than I had hoped) returns. Opportunity cost looks to be too high for some to put up with unfortunately.

Side note- Stern's holding is embarrassing. 150k shares!?