Hi Amer222333,Listen, as a holder of this stock, I am frustrated...

Hi Amer222333,

Listen, as a holder of this stock, I am frustrated with the stage of progress of this company as much as the next guy. Many of my earlier posts reflect that but the family won't give it up whilst they maintain control so shareholders just have to accept that & the innovative ways they have managed to fund development to date. Unfortunately this has meant our stock has been diluted by 100% over the course of 5 years, but it is probably not much different to some of the other startups.

The reality is that 100koz PA is not in the Warrior reef else their production output would have reflected that consistently by now. They are now speculating that in order to get to those levels, they have to open up the adjoining reefs concurrently. (Hence the renaming of Warrior to Imperial). They are now going for the Sons of Freedom dip & perhaps this will be reflected in their production output soon. They need to prove.

My patience is wearing thin, but I will give them more time.

Of course the operating profit is veiled dressing, I'm not disputing that, but like I said I am not going to argue the toss over their accepted reporting methodologies. As I had pointed out, if they had began to armortise a % of capitalised development for the current financial year (as they probably should have), then CTO would have declared another operating loss.

$14m development PA will never be enough for this company & in the longer term scheme of things if the ROI is there & output levels have been consistently increased to the levels we are expecting, does it really matter if it is $14m or $30m PA? It only matters if the development drives do not begin to reach self-sustaining levels. This year should bare some indication.

The fact that they have chosen to report an Operating profit for the first time indicates that they want to demonstrate a degree of condfidence going forward in that subsequent years are intended to be profitable.