sales update, page-3

nicholb0011,

Today's announcement appears to be the most positive to date re sales of kaolin, but I am still hesitant until I see revenue hitting the P+L.

We have also not taken into account working capital requirements for a start up operation like this or the redemption of debentures in Sep 07.

They had $700,000 at the end of December plus an additional $2m raised post 31 Dec 06 as disclosed in their half yearly report.

As per the 3 app 3b's lodged subsequent to their half yearly, they raised another $1.5.

Giving them $4.2m less admin and product expenses since 1 Jan 07.

On their average cash burn of $500,000-$1m per month, I would say they are sitting on less than $1m in cash right now.


If they have finally managed to get some contracts in place and generate revenue it means NOTHING if they don't have adequate working capital to fund the ramp up.

I expect a capital raising to be announced shortly.

Or if they get their act together, the float of ACC on the AIM could help.

How many are you holding nicholb0011?