Ann: Company Update , page-3

read between the lines Knuckes and the bottom of the release....their cash is up 300% in the last two months and thats after paying off redundancy, HBJ consultants, feasibility studies into alternate stockpiles etc and their debt is down. I make their net debt currently only $2mill when you exclude environmental bond drawdown of $4 mill.
meanwhile grade at frogs legs is climbing as is ore production.
As for HBJ, you would had to have been a few BBQ's short of a steak to think the pit wall slip was a minor problem. The market knew the risk of this failure 6 months ago in my opinion...thats why they sold it down and gave the buyers at these levels the opportunity to get set. Now all we got to do is convince management to not take those sort of risks again....but I think they have learnt their lesson by now!!