Ann: Quarterly and Appendix 5B, page-5

Yeatesy, I had forgotten about the road – Ignoring for a moment how much the road cost, it is an essential investment and should return its value as GUF (sorry Terracom) develops the region.

The Quarterly report states estimated cash inflows in this quarter to be $15.3m with outflows of $15.2m so we are cash positive! Assuming that the outflows include current debt financing charges then we don’t need more funding, restructuring and dilution.. we just need management to focus on cutting out every dollar being spent not directly related to the producing mine. Ironically, they need to replicate what Peter Kane (GUF ex MD) is doing at Cockatoo…