General Discussion, page-1236

Those figures look as though there is plenty of time left. However there was 3.454 million left at the end of the March quarter, and then they decided to raise, why? I assume because as they stated they wanted money so lenders would carry on due diligence as well as have operational money. They did not get the money for due diligence so its no longer happening.

They spent 1.220 million during the June quarter and after the raise had 4.674 million left. We are now at the 14th October in the December quarter so we could expect another 1.220milion will have been spent in the September quarter, definitely by todays date if not more, leaves us back at the 3.454 million or less, an amount they had when the company thought they should raise.

We still have access to an extra 4 million, but you can't spend it all down before you generate more cash they have nothing like 7.2 quarters of time left regardless of what they stated in the June Quarterly.

To raise again in this situation I believe would finish the company off completely, there would be no participation, they have flogged it to death, way to may SOI now to make any capital gain on the share price.

The company is out of time, the mine is on care and maintenance and no due diligence is being performed by lenders , it needs finance but has very little money left to secure it. Contracts to sell beneficiated ore are useless unless we have an operational concentrator, we don't, and everyday that goes by we are losing the capacity to get it working, because of the lack of finance to even get the mine operational.

Yet Joe continues to pull a very high salary for a tenuous $25million market cap company that was many times that years ago, he is being rewarded for no achievement. I admit I do believe he has tried but failed to date, so you can't keep claiming rewards for a failing company.