Ann: Quarterly Activities Report , page-2

all looks reasonably +ve to me but i'm not following the story too closely as it's a relatively small holding for me.

seems they're currently cashflow +ve to the tune of $2m per annum with improving short term financial prospects. am happy to wait while they progress the 8mtpa dfs and, utlimately, the operation. hopefully by that time we won't sitting in such an awful market for small cap resource stocks.

1) any thoughts on the qtrly?

2) any thoughts re the prospects for the dfs and its subsequent approvals?


k