Ann: Quarterly Cashflow Report, page-94

Great job rookstar.

lol. You have sucked me in to looking at it in more detail than I intended. You hit my weak spot. I am an accountant with heaps of spare time. I tend to do my projections from financials and information provided and not fixated on bank account and cash flows, though you get very similar numbers with these cash businesses. I tend to create my own incomplete accounts in my own way and update from the quarterlies.

I haven't worried about the options. Not many left now anyway. I have only $420k after the last lot.

I do have 6 deliveries for April, May and June, but the difference comes in where funds have not been banked for the delivery at the end of March, and you have started with the EBITA for the quarter. There is a timing difference there. I also started with the year to date EBITA to take up expenses incurred in the first 6 months

I didn't look at the feasibility study in detail, just grabbed the numbers from it. You are correct in writing down the capital cost over the life of the mine, however from memory this was done in 2019. Since then the ATO is allowing more generous write offs for business. So while I have changed the profit, tax stays the same.

These are my updated calculations.



In any case, I have never seen a mining company or any company for that matter have a payback of their investment in less than 6 months.

These are just my calculations and not financial advise.