looks ok to me, page-17

Ok from what I can see, last qtr they had approx $5.5m coming in from sales though in the annual report they said $6m. Estimated cash flow out for this qtr sits at abt $5.5m with $1m of that in exploratory activities. If they were that worried abt cash they could have just put that on hold to build the coffers for a bit.

Two things that can impact positively:

1. They hit their ounce target (yes it has been a poor record to date)
2. Price if gold keeps climbing

it should be noted that the speculator saw value in this at 11c to double up, so that must count for something. We do have a healthy profit margin per ounce so it's just a matter of getting to the ounce target. Next quarterly will be telling.

Yes they are a but tight ATM with their money in the bank but I agree they look to be cash positive from this point. Not sure what "liabilities" people are referring to - can anyone enlighten bec as far as I can see they are debt free.

11-11.5 has been a solid base and on the chart is a solid bottom for me. Cap raising was done at abt 17-18c from memory so upside can be good from here.

Sorry for the figures in here. They are ballpark as I couldn't be bothered looking back at the figures in the qtrly, etc.

I see good value at this price and cash positive as of this qtr. Still slightly risky but the upside outweighs the down for me. Dyor as always.

Good luck folks.