quarterly says it all!!!, page-108

re: the poncho gang... redraw,

we actually agree on something-multi nics!LOL I totally am against the practice.

Oh by the way, whilst I have been nominated as a member of this illustrious group, done any work on the cash position by Xmas.

Looks to me:-
30/9 $868,000 in the bank, plus a further $3.45m in the rights issue.

Less head office-say $250,000 for the quarter.
Less US$2.9m for the Puntland payments (US$1.5m, US$1.0m on completion, plus 2 of the 17 months at US$200,000 months starting mid Nov).
Less monthly payments to the Peruvian vendors(3 times US$12.5grand).
Less actual expenditure in Peru (as per quarterly budget A$200,000 for the quarter?)

At an exchange rate of 0.75 US$ to A$ leaves them with zip? With over US$200,000 per month eating its head off for Puntland?Hope they put all their spare cash onto the "Diva"?

Sucker deal to me.LOL

Cheers,TAS