They're sitting on $21 million in cash. Not too shaby;...

They're sitting on $21 million in cash. Not too shaby; Considering the log wash failure and 1st year operating hurdles. The fact they've ended March having reached planned production rates was key for the time being.

Important to remember all roads lead to Stage 2, (5/6 months away). In other words, they simply need to plug away and meet planned production till the site is overhauled for a trebbling of production. This is when the quarterly profits will start to gain attention. In the interim, they've avoided dilution and saved dollars through the 1st year, to a much larger prize.

The real ultimate prize being stage 3 in which we are likely to have Offtake news during 2022.

The 1st year always presents obstacles, am satisfied that for the next two quarters, in the lead up to stage two, they have plenty of cash and experience as to best implement updated machinery and expertise as this announcement clearly provides.

Stage one was always a stepping stone.

“We continued to advance key operational objectives during the quarter, with a particular focus on improving the performance of our Butcherbird Processing Plant. Following the implementation of several processing plant modifications in late last year, our processing team delivered record daily production numbers in early January and the aim now is to maintain those production rates on a continuous basis."

And

"Mining has and continues to perform to planned production rates with current equipment showing sufficient capacity to meet the immediate and medium-term production requirements. The free-dig mining method continues to ensure operating costs in line with forecasts. No bottlenecks are foreseen in this area."

Best of luck to all.