Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-34

Totally agree Slick. Instos have capped the SP right from the beginning. Collusion was always potentially going to happen.

The CR was the right thing to do but, maybe too generous a discount - especially with the options.

Instos ended up with too much power to manipulate the SP. Somewhat of a worry if any pending takover is going to occur as well.

Anyway, we are pretty much at thir mercy at the moment - and only a significant commercial deal will release the brakes.

So, plenty of cash but with some negative effects to deal with.