Ann: Full Year Statutory Accounts, page-27

Having a chance to have a peruse of the Annual report it shows nothing unexpected IMO, the main event was having our first peak into production cash costs and they look fine for a ramp up stage , every thing else is what you would expect from a startup spending on what's required to reach production and revenue and maintaining a strong balance sheet.

We are now already 3 months into the next financial year and the upcoming first quarter will finally give us a price per tonne and establish a baseline to match up against the movements in the benchmarks used going forward, although that wiil be a little skewed by the first shipment being below the 5.5%LI20 target. It should also include the bulk or the remaining expenditure required for the NAL concentrate operation and enhancements enabling cash to build up from earnings not CR's ...

October was the original target for nameplate so we will see how that goes , it's a rather inexact science but their track record of achieving important Milestones has been good.

The last couple of years have been incredibly volotile and it would be nice to see a bit more stability but with a generally upward bias, it would also be nice to see the Bi-polar World of HC stabilize, the forum has decended into new depths recently..

Cheers Whisky