Hi StrideB,I am not sure about the etiquette of HC and I am not...

Hi StrideB,

I am not sure about the etiquette of HC and I am not sure if you were responding to me about my comment about September Cashflow ( a couple days ago) as your reply mentioned about listening to the Broadcast because they have loads of cash?

If you were responding to me, I was just putting my case forward as to why I am not pushing the button to buy more shares at this price (I have bought previously at 36cents, 53cents and 71 cents).

But to be clear, their ASX qtr announcement can be read "between the lines" as follows:

Their September Qtr results shows they have $39.7M in the bank at end of the qtr after spending $14.4M in the qtr.

Taking into account, they paid $7M for some assets, means a cash "operating" outflow of $7M.

Of the $7M spent on assets, $3.9M relates to upgrading port facilities (which their announcement states is Stage 1 of $23.5M redevelopment -refer Page 5).

My simple maths means that they have another $20M to spend on the port leaving $19.7M which equals approx 3 qtrs of cash burn at their Sept Qtr cash "operating" outflow rate"

If the Port is the only thing needed to be commissioned for ramping up production, that is great. If not, then they will need to raise equity or debt.

The good thing is, they don't seem to have any debt and on a successful court outcome they should get a good hearing from banks to pay for the upgrade (or if we dream, from the NZ govt as a localised job incentive... wouldn't that be nice).