What a difference a year makes, they have gone from forecasting...

What a difference a year makes, they have gone from forecasting 50,000oz per annum ramping up to over 300,000oz pa over 5 years to 50,000 oz / pa building up to over 220,000 oz / pa!!

Interesting that Fortune have not called in the debt on the processing plant, but that could happen at anytime I guess and with interest accruing on what was supposed to be an interest free loan they may end up owning the company. The original redemption cost of the $100 Notes was $130 after 6 months which equates to 60% pa , the original loan was circa A$6.4 mill no wonder given the above it has grown to A$10,897,258 as at 30 June 2016.

They certainly have some financial problems with liabilities to the ATO and others.
Page 44 of the Auditors annual report is good reading.

DYOR My thoughts and ramblings only