Ann: Trading Re-instated Following Successful Restructure, page-9

I don’t think enough attention is being paid to the current Free Cash Flow generation capability of the Company. Just look at the Balance Sheet information released on Thursday: between Jun 30th and Dec 7th, the Net Current Asset Value (Total Current Assets minus Total Liabilities) increased by 16.24m A$. Subtract 6.366m A$ of Convertible loans, and you have 9.878m A$ of surplus liquid assets generated in less than six months; that is after adjusting for Non-controlling interests.

If the Company manages to generate the same amount of Free Cash Flow over the next six months (which is essentially what they are guiding, and there is no reason to believe they won’t achieve that, given that the open cut at Way Linggo has very low operational risk at this stage), I don’t see any need for a capital raising, as the open pit operation at Talang Santo is expected to be in production mode by the end of 2018.

With respect, I think people should check their facts and provide some numerical evidence to support statements such as “they need a Xm$ placement” or “CR is expected”, etc.

IMHO & DYOR