hotnews, page-3

To be fair, with ASX continuous disclosure requirements, you only ever get a retread of previous news in the Quarterlies. The 5B (hidden away at the back - pg 16/18) is all that's really of interest. Shows we've burnt $600K. Two thirds of that in staff and admin costs. Extrapolated out for the year that's about $1.5m. A bit over the average for a small explorer - despite Brown's mantra of keeping a tight lid on costs (of which HE is by far the biggest.) Cash at $9.5m - so there shouldn't been any need to raise funds in the short term. The exploration / evaluation costs are low because most of that was paid in previous quarters.

The stakes in Botswana and H2X are the big positives for me - I reckon that's what the market must be liking too. I remain pessimistic on Venus producing commercial flows and Tamarama is a confirmed dud.