$72m in bank $41m mc iron and coal play

A big iron project in Peru and coal in Indonesia!

In light of the extremely tight credit and capital markets, the
company intends to progress the development of its various mining
projects in a manner consistent with achieving the greatest value from
its existing cash reserves.
In the short term, the principal focus of the company is to bring
its Berau coal project into production, which is expected to generate
significant recurring cash flow for the company.
With regard to its operations in Peru, the company will focus its
efforts on advancing the short-term cash flow opportunities afforded by
the Cuzco Lump project and to reduce its other expenditure in Peru until
the dispute with its local partner is resolved and/or credit and capital
markets show clear signs of recovery.