quarterly ann, page-29

A few things strike me:

Yes, running out of cash fast, no way they will have enough production to not need to raise capital by end of Qtr.

Even a J.V wont bail them out of a capital raising, look at their estimated cash outflow for next Qtr....

Birch only 20% fluids out with a target of %50-%60... Very slow going, they say target production from here is Qtr 2, 2013.

The market has responded negatively for the above reasons in my opinion. The market certainly expected more information out of Birch by now (I know I did) :)..

On the positive, They will hopefully announce some sort of corporate activity in conjunction with the capital raising.. Maybe some more land purchases or something...

So, people - completely ignore my Market Cap calculations because they will change by the end of the QTR irrespective of oppies it seems...

There is certainly plenty of time to pick up some more AKK but don't forget to keep some cash aside for the dilution (hopefully us mum and dad investors get a look in).

Oppies are still possible if the Capital Raising brings about some incredible corporate activity but methinks unlikely, hence the oppies sell off on announcement of the Qtrly.

Not been negative here guys, just seeing it for what it is and I'm a very happy long term holder in AKK and Richard Cottee!!

Be patient, don't expect easy money and you will all get rewarded.

Cheers,