Ann: Austral Resources Appendix 4E, page-7

Not a clue why I should care whether you think I'm reasonable or not, all of your posts are absolutely baseless.

They've got a boatload of debt, they had to draw down on $11mill on the 22nd of December, showing that even though the company was "cashflow positive" it still needed working capital requirements at a high interest rate, so were desperate.

Next, they've got $45mill of short term payables due in the next 2-3 months. Plus additional principal and interest payments on $60mill of 12-15% debt, which is horrendous for a small company with minimal NPV on the cashflow from the get go.

Let's say they actually do start making $4mill per month, they will need an entire year to pay down their short term payables before they get to the debt facility, by that point its already at $70mill, less any capex and exploration they are doing. Shareholders won't see net cash for 3-4years+ and dividends won't be likely when the mine closure happens as $45mill+ of rehab costs to incur to go with the costs of C&M.

Hopefully no big dilutive events in the next few months for AR1 holders.