on august 26, the company issued a report, and on page 3 of that...

on august 26, the company issued a report, and on page 3 of that report, it was mentioned that growth above 50,000 oz per annum, can be funded from internal cash flow.

watso could assume that this might mean, that to crank production up to 50,000 oz per annum, will require cash injections.

on dec 16, the company released a report, which indicated that the board had met at charters towers, and had a chat with the operations personnel, and determined that production for the quarter, would now only be 5000 oz - yes, the quarter was almost complete, so one assumes that they would know that production was only going to be 5000 oz.

likewise, it ia almost the end of the quarter , and the company would know the expected production for the quarter - and as trtkjd1, suggests, updated production figures, would be far more meaningful, than some non binding mou - which does not pump any immediate funds into the company.

in all fairness, it does not need a board meeting in charters towers, to find out that the expected prodcution will only be 5000 oz for the quarter. some directors get paid a very good salary, and they should be in regular contact with the operations personnel