Ann: MD on Results and Outlook , page-5

Jay
I still think this business is good long term. I think it will sort itself out but its going to need IMO a proper cap raising and some real facts about the build of overburden and other stock. It cannot keep absorbing cash. I think it does have a bottom and a buy signal but that's a lot lower. IMO the constant disappointments are not in the interests of the shareholders and a few heads have to roll. Bankers cannot be happy that once again this is travelling down. The margin for error has been significantly reduced - Look at the interest cover on say $5m profit with a growing debt and growing stock. It has to stop the optimistic forecasts and get real and under promise and over deliver.

Its on my watch list however.