yes, at this stage. I am looking though at outside influences including the recent commisioning by MBG of substantial increases in production capacity, reserve proven and probable and the tin price movements. MBG's recent positive news as one of Australia's few producers has been lost in the general tin price sentiment I think. The underlying numbers on this company are very positive imo.
Here is the ASX response.
MARLBOROUGH RESOURCES NL 2002-11-13 ASX-SIGNAL-G
HOMEX - Perth
+++++++++++++++++++++++++ RESPONSE TO ASX QUERY
In response to your questions set out in your fax dated 11 November 2002 we comment as follows.
1. During the construction and commissioning of the expansion, output was reduced as expected, adversely affecting cash flows. In the current quarter operations are cash positive as the benefits of the increased throughput are already apparent.
2. The Company does not expect further negative operating cash flows in future quarters.
3. The commissioning of the capacity increasing equipment during the quarter was anticipated and the additional operating costs associated with this commissioning were planned.
4. Not applicable.
5. The Company can confirm that it has, at all times complied with the Listing Rules, and in particular Listing Rule 3.1.
6. The Company expects the positive operating cash flows to continue, subject to the tin price, and the Company is partly protected from a fall in this price by a tin hedge at US$4,420/tonne until November 2003.
