Ann: QPME commences operation of Moranbah, page-34

QPME is the main reason I actually sold off around half my holding and de-risked. The cash burn is insanity for such a small company, 10-s of millions per quarter... For a company that tanked 50% trying to raise 20m.

Right now given Tech delay, commodity prices, and the QPME risk they have taken on I would rate QPM as the highest risk its been since I invested 3 years ago and that's saying something.

If anything (ANYTHING) goes wrong realizing gas revenues we go under.

Tech is delayed until who knows when, could be 9 months before we see funding for that, commodity prices will be who knows where by then but if they maintain this trend then the blue sky revenues for tech become pipe dreams. QPME could be good, but also if anything at all happens to impact the plan it becomes a lead balloon on a very very stressed company with nothing in the bank which has taken every run on the board that encouraged me to keep buying more and turned them into own goals.

In a couple of months we should see what the management team is really made of, the next quarterly I think will resolve a lot of questions.