Ann: Quarterly Activities Report , page-15

The terms of trade on the China shipment will be crucial in terms of our cash flow in the next few months. They may be partial consignment with little cash down, but I would be surprised. The debtors column and the ongoing contracts for zircon should be enough to secure an overdraft you would think (another option).
The key question is; have they finished the capital expenditure? If so we will see a rapid return to positive cash flow with continuing improvements as efficiencies are found in production and sales momentum builds. If not, production is compromised and cash continues to flow out the door.