Cash at bank 31march 2012 $443k, estimated cash outflow june qtr...

Cash at bank 31march 2012 $443k, estimated cash outflow june qtr per coy $1m. Previous months cash flow -$1.319m

Now that would mean according to the coy, they are now illiquid.

How were they going to survive June qtr 2012.
They were going to have the debt financing, or perhaps that should be a discounted share issue with a free option. This is to be complimented with the sales of manganese ore. The coy mentions first sales this qtr, as distinct from samples. This would again be packed by hand as they have not the funds to drill and mechanise facilities. This point is probably irrelevant due to the either small volume, or no production capabilities due to the cash situation.

The advanced discussions on cash injection have been ongoing for a while now, and one would have to think that with a desperate situation now, no JORC, in fact what has occurred on the drilling,their whole viability is very questionable.

Now RB and Santoo, what do you estimate their current cash position is. This is a very critical factor.

Also , what do you two think is the current drilling situation.

Nb. The coy info above is just 5 weeks old.