Ann: Reduction in Operating Costs , page-5

Gents,

if you look at the timelines,they are running about 3 months behind schedule(production wise and cost wise as a result)

All things said and done,if you look at the dynamics--78%? or so yield and it should be technically feaseable for 85% yield,which they are working on.Wiluna has always been deemed to be semi-refractory.That means a lot with modern technology applied.

Reduction in costs and reluctance to raise large sums upfront and believe me it would have been easier to raise more earlier,rather than later at the cost of dilution to ED USHYS interests,viewed in this manner i.e. 3 months behind schedule puts an entirely different perspective on things.

No they knew the plant maintenance was bad,but obviously its really bad,before the loan taken to recondition it.
That has cost them dearly,but even with all this,it is still producing and its saving grace was the upfront bringing of all accounts to current.That means a lot and allows the slipppage that has occurred lately to be taken in fair light without any great prejudice.

yes,i had a few,wouldn't stump up for any at 8c,but did drag the a few lately into the fold,lifting the share price to where it is.

Given all this there are reputations on the line and ED USHYS is the man who i believe will make this turn if anyone can,like Bill Beaumont at NST,he's taken a no-lose deal for him if he performs.If he doesn't his name will be worth didly squat.
If he's as pigheaded and hard hard to deal with,then he's a man after my own heart and well worth the $500 i have invested lately.

DYOR+DYODD