Ann: Revenue Generation Recommences-KBL.AX, page-81

Liabilities are expenses and outgoings (accrued from operating expenses, interest from long term debt etc) - factored into reporting, once deducted leaves you with your bottom line.

The actual outstanding debt equates to around $18 or so mil to be settled. This is being paid down from bottom line profit and capital raising after expenditure is deducted. That is clear to everyone. Pearce can do the bulk of this. Positive cashflow proven.

I am not referring to operating expenses which we have already clearly proven to be economical from the previous qrtly. I am referring to the debts owed to date and what we are doing about them.

Regarding grades etc - you need to go back and reread some of the material announcements or presentations. There have been many high grade intercepts, obviously more work to be done to get a fuller picture.

Yes there is risk but if mgmt hit their targets and clear the debt, then Pearce north can be opened up with no debt and it becomes a low risk, profitable scenario.

7.7m MC remember that. The risk has been factored into the SP. Looks like the bottom for mine.