My 50 centsworth on seeking more clarity around the March...

My 50 centsworth on seeking more clarity around the March quarter forecast spend numbers.

You have toremember that the quarterly cashflow report is just that - a report of the cashactually withdrawn (or deposited) into the MMI bank account during the quarter. It is not a precise reconciliation of production activity for a quarter.
For the Decquarter $41.04m of cash was used to pay for production costs. Some of thesecosts would have been incurred during the Dec quarter and probably about 1/3 ofthem from activities in the previous quarter. Companies don’t spend cash each dayas “production” occurs. They wait to receive an invoice from the contractorthen wait for say a 30 day period before paying the bill (ie: using cash).Cash expenditure always lags production activity.

Looking forwardMMI have forecast $19m of cash payments on production for the current quarter.So what is this to be spent on? It’s no great mystery. It is most likely justpaying all the invoices now due from the previous quarter plus meeting thefixed costs of maintaining the site during the wet.
I think finding out the detail behind the $19m would therefore be somewhat underwhelming.