piop capable production 25 mtpa, page-27

IMO Management have done themselves a big disservice to release such a Spartan quarterly report.

This is on the basis that feedback from the FMS publicity machine (who seems to respond selectively to individual shareholders - about one month on and still I waiting on my response from them), would suggest that there is actually something happening behind the scenes (lawyers etc) that they have been working on and have not yet disclosed in the report or any announcement to the ASX....it really looks like they have not done much over the last quarter if the quarterly is any indication and if this is not the case then they need to quickly redress this.

What they are saying to me in the report is that we have not really been that productive over the last quarter, sure we have discussed a couple of things with a couple of potential suitors over the last three months, but we have not progressed anything beyond a discussion....the tea and biscuits were great though..

We have however pressed a couple of buttons on our computer, we all stood around the computer in amazement, to see our computer model spit out some results which shows us that the resource can support 25mt a year production....This took about a whole day....

It is very obvious that on the basis of the last couple of quarterly reports and the dwindling cash position that a vast majority of posters and shareholders are quickly loosing confidence in management....

There needs to be a dramatic turnaround within the next 3 months for confidence to be restored....