Ann: Quarterly Cashflow Report, page-8

For the sake of the retail shareholders who have been continually excluded from discounted capital raisings please say it isn’t so...

Oh. It is as you say.

Agreed on BB- he and AUZ appear inextricably linked and I really think that keeps at least some potential partners away.

As to a timeframe within which a result of some kind is needed?
As per the announcement we can note that 4 quarters cash at hand is from September 30 and unless a deal is done before then? On going concern issues generally demand at least a full quarter of cash at hand when a CR is done so that says it’s likely another CR ( which if we use history our guide will be discounted and exclude retail shareholders ), will be around June. If not earlier to avoid tax time worries.

If done after that it will have the company in a perilous position if that potential CR fell flat.

Therefore based on this stated cash position I think it will be a May-June standard AUZ type raise ( no flame- I just mean similar to what we’ve seen before ), or an even more painful than usual ( for the retail shareholders ), raise in July-August.

I still think divesting the tenements that are too far from Sconi and shaking up the board is the way to go but the company is in a real bind now as divesting its non QLD assets would take time and... money.

Time? Anywhere up to a year or more ( by which time the company will have run out of money without a CR ), and money? Spin offs cost money. To me that says there isn’t enough time or money to do it before another CR becomes necessary.

A damaging catch 22.

Look out below?

I can only say again that I hope the AGM brings some real change which will benefit retail shareholders.

*If reported for talking about a CR please note that I’m talking about the likely need for such based on the announcement.*