Ann: Presentation June 2012 , page-5

There's a lot of "potential" being mentioned but I still fail to see any clear future strategy.

It all seems like "well we can do this if we change this" or "if we don't do this then we might be able to do this" etc

The worrying aspect of the presentation is on p.4 where they state the forecast cash balance at 30th June 2012 is only $12m

The plant upgrade and any meaningful mine development will require $$$ and it appears to me that the market is being softened up for a capital raising

Cheers