re: Ann: Appendix 4C - quarterly ended 31 Mar... No one...

re: Ann: Appendix 4C - quarterly ended 31 Mar... No one ,understandably,is overexcited with the quarterly.
The bad bits:
1) SPL might not be a goer.
2) REE .."economic return uncertain"
3) No clear guidance about BSM royalties.
Th not too bad bits:
1) 70% removal of EAFD liability.
2) $3.7m expected within months( Env. Bonds)
2) IRC project a reasonable earner.
3) -ve cash flow of $615ks (taking into account $300ks paid for sacking the Boss)..Could have been only -ve 300ks.
4) Admin expenses will be down in subsequent quarters after "losing" 3 highly paid gang members.
5) Decision about the IGP in a couple of months.
6) Talk about acquisitions & BSM's Hellyer mill is rather interesting.
7) KR holds 5%.
....
Not too bleak...With a bit of cash coming soon which will facilitate corporate transactions/acquisition , cost cutting & No nonsense approach to business from an MD with vested interest..The turnaround could be swift.