Ok, lots of 'free' time to waste.So I went back to the Sept...

Ok, lots of 'free' time to waste.

So I went back to the Sept quarterly report issued on 29/11 and checked out the "Estimated Cash Outflows for next quarter section" Item 4.1.

Total indicated was $7.9 million of which $5 million was for Exploration and evaluation, $150k for production, and a whopping $2.75 million for admin.

Move forward to the latest report released on the 31st and then lloked at the cash flow (Items 1.1 to 1.7).

So what do we have?

Exploration and evaluation comes in at $18.36 million; development at $4.7 million; production at $102k; and admin only $392k.

So one has to ask:

1. What in the world did AZZ spend those amounts on ?

2. Where did the funds come from?

3. Why the huge differences in the estimated amounts and actual amounts?

4. The security deposit was an amount of $2.29 million- it this being used for the share buybacks?