Ann: Quarterly Activities Report , page-2

I think we could have written this ourselves.

Next quarter projected admin fee 500k+ and ~1M+ total output, so we have ~7 months before.. well we run out of cash..

i noticed a finance lease on equipment which wasn't there last quarter.

what are your thoughts?

personally im thinking whilst we have good management and they want to "time" it right i think they were 1. 2 years to late and 2. need to act within the next couple of months or else its 0 cash time.

they have lost the vitol agreement by the looks of it.
im really in 2 minds at the moment..

they have 297Mt in 1 mine ready to go almost.. just get a local deal happening - get the debt facility pay it off and then hopefully by then the market will pick up for export again....