Ann: Quarterly Activities and Cashflow Report, page-24

Big concern now is that they have burnt through the cash whilst chasing the big dollars to push through the Alumina deal. Projected staff costs this quarter of $377k when they are only spending $50k on exploration and evaluation (that will be evaluation mainly).

So so when the quarterly comes out it will probably show only 500k cash, and that is what will be spent this coming quarter. Hence the big concern is a cash raise I should coming if they want to even begin starting on drilling or pre-feasibility.

And there won’t be any drill results or exploration results to boost the sp before any cash raise. So looks like the sp is to flounder until a clear sign from the company on what the plan is and the timetable.

A share purchase plan would be very risky as many shareholders are stuck here having bought in for the alumina and have no interest in throwing good money after bad.

A mates rates raising for the sophisticated investors could be scary for the sp.