Ann: Quarterly Activities Report and Appendix 5B, page-2

They spent $10m on investing activities in the March Q, anyone have a clue what this is on?? Drilling at Twin Hills to date 3,500 m, assume very high end $450/m complete drill cost = $1.6m, so can't be the drill programme, unless they are being nice and paying for Lone Sister + 309 cash in hand up front with an xmas bonus.. Can't see much cost heavy nvesting action otherwise for the q, Malmsbury funded by JV partner, White Dam cash flow positive..

Burning through cash a bit too fast for my liking, especially as the market swings from growth/explorers to cash flow/producers


CORNBRED