Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-11

@Palm Frond


Manuka Res Ltd operates like a "Trust Fund Babies Piss Up".

Slip sliding away to Mortgagee In Possession appears to be the operating plan.

The lack of accounting rigour (Quarterlies present like a game of twister where the Journal Entries are smeared with warm macadamia butter and slide from entry point to entry point).

The inability to present movements of screened material in actual tonnages from Mt Boppy to the Wonawinta Processing Plant, with actual transportation and processing costings, as well as net return on processed material seems to be part of an operating plan that resembles ....... "Nothing to see here, everyone move along".

Future metal prices may well justify the long term viability of material processing, however, it must be asked:

"For the benefit of which entities and in what time frame"?