crystal ball, page-15

have just re-read the August update and if becomes pretty clear what the problems are-

JW delivered the production but was unable to deliver the grades per ton in time to prevent the company from becoming extremely short of working capital

Roger Mason has been employed to review resources and reserves
Andrew Grubb has been employed to review mining operations

The new board has met with the mining contractors to discuss production effectiveness and efficiency

This is pretty straight forward they are not achieving the grades needed to generate sufficient income to achieve long term goals such as further exploration, completion of gold room, etc. They need to generate more income at less cost to build up their reserves.

The board has put measures in place to address these problems and hopefully some progress will be made in the near future.