Ann: Operational Update, page-31

@Bullwhisperer I do admire the faith you have put into the company.

This project has not and will not make a profit, it may have a month here or there where the operations make more cash than it has to spend but overall it’s an dud.

The only people who have made money from this are the brokers who get a fee each time they raise a few $ and the directors who continue to cash their pay cheque.

They delay in mining Sand King is simply a basic attempt to keep the cash burn down in the short term, however if this project keeps running they will need to mine and pay for the massive pre strip at Sand King which will soak up the cash sitting in the bank.

Major shareholder in Hawkes Point must be getting grumpy by now?

LP