As a investor sitting on the sidelines waiting for a sign of a...

As a investor sitting on the sidelines waiting for a sign of a turn around I don't share the same optimism here.

On a "All In" cost basis the operations burn through $9.5 million or $3.1 per month. The ongoing lease payments and other items listed as "Investing" when included in the section 8 calculation they have only enough money to last another 1/4.

Another concern is the UG, the highest source of mill feed which provided over 1/3 of the overall blend for the 1/4 has stopped. Whats going to replace this and keep the grade up? Another UG will consume a large amount of money to start as will another pit.

I'd be expecting another cap raise or maybe an asset sale to occur, I wouldn't think the company directors would let themselves go into another 1/4 and face the ongoing WA Covid storm with so little cash available.

Hope it can be turned around but for now I'll wait for some significant signs of improvement.

Cheers
LP