Ann: Quarterly Cashflow Report-GRY.AX, page-2

More money down the dunny - $2m this quarter on basically nothing.

Got very little but bragging right for the exploration spend, much of which would have gone on BOE's tenements.

The crappy CEO still thinks his main job is to undertake exploration even if he destroys the company. Over the last 3 years there have been many millions spent on exploration/evaluation for next to no purpose, and maintaining a large corporate body (now somewhat reduced, but still excessive).

The company has all the inground gold ounces it needs for a gold mine, they just need to wait for the gold price to recover and funding will be easy to obtain.

Instead he is back talking up a larger operation again which would dilute the hell out of shareholders due to the cost and the share price.

Only $10.6m in cash left, so just another 12-15 months and its curtains for the company, or capital raised at 5 cents for admin and more useless exploration on BOE's tenements.

I still do not get it why this company was not taken over for a song last year - it would have ended the role of one really useless CEO, and he could get back again to doing what he is OK at, being a geo in some remote location that nobody has ever heard of.

loki (aaarrrrggh)