I may be way off the mark here but this is my take on the...

I may be way off the mark here but this is my take on the current state of affairs.
According to the latest quarterly(30/6)the net cash flow payents were $1,092,000.Taking this as normal than a minimum of around $4.5m can easily be budgetted for next year to 30/6/2012.This is a real low figure as increased costs have not been factored,increased activity in terms of drilling,etc and of course 5 extra senior appointments at this stage.There is 30,000 metres of drilling planned on White Range of which 20,000metres will be funded out of the Tulla loan of $3m.
Our cash position at 30/6/11 was $1,001,000.
Also according to the quarterly a total of $228,000 was paid to messrs renshaw,hill and usaaz for various services including bonus to renshaw.If this trend continues than $1m needs to be budgetted in for next 12 months.
There is also 10% interest to be paid on the $3m loan.
The quarterly states we are looking to generate cash flow within 12 months and become a stand alone copper producer within 24 months.
If my sums are about right can we carry on for 12 - 24 months without cash flow.
Here is the crunch.Even as late as this quarterly we continue to read statements like:
"recruitment of key executives to drive the companys transition to be a copper producer"
"discussions continued...with a possible third party treatment of company's ore"
"After review...with a view to substantially expanding copper resource base"
"QMC is continuing to develop....with a view to fast tracking gold production"
"Discussions continued with possible exploration joint venture partners"
Which one of these is a definitive positive statement?
The problem is we have been getting these half baked no substance statements since 2008 and we are still hearing them 4 years later with a share price at record lows and the main man making comments that the market doesn't fully understand the value of QMN.I think the opposite,THE MARKET DOES FULLY UNDERSTAND THE VALUE OF QMN.
I will no doubt cop some flak on my laymans take on QMN but this is the good thing about forums we all are entitled to our opinion.
Finally,if you like me are not happy about the current state of affairs than get your details to Hop so we have a more powerful voice.