Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-19

Even though the dollars are worse than I expected I am upbeat (not as much as gopher) about this.

First off, it's obvious that Kevin got the side shift as he failed risk management 101. There is no way, even after an extended dry period, that MC should have run out of water. They have wasted it with no thought of the future, and we are paying as they assumed a normal wet season, unforgivable given current climate uncertainties. At least the plant downtime is now explained, just should never have happened.

The extended waste stripping was not a decision they made; it was forced upon them because they could not efficiently process the ore. This will be good for the future but has caused significant cash flow problems for the immediate.

Best of all they included what I have said about the relative strength of the AUD. Note that the price is 10 % above the December quarter average (and that shown in the quarterly) due to the APT rise and AUD weakness against the greenback. This means that the 19M receipts even without improvements will be around 21 M. With MC producing more it may be close to a 5 M turn around. This is not an extravagant claim it's all related to the future price and could go the other way, but I don't think it will.

My initial investment in KIS was based on a future tungsten price, changed to EQR when KIS became very expensive. Still believe tungsten price will continue to rise, even to the extent that G6M(KIS) has a future.

Side note 1. To prove the irrational market, look at TGN, no income, tungsten explorer only, still needs to build a mine share, price has increased substantially, MC above EQR whilst EQR has gone down and G6M has all but gone bust. Go Figure
Side note 2. Rob, do not bother replying, You should be totally embarrassed by claiming someone that disagrees with you has a low intellect. You are blocked anyway.