Ann: GRR - Quarterly Report for 3 months ended 30 June 2017, page-24

DJ
See your first mistake is too make the common assumption that I must be talking it down to buy in cheaper, and by believing it or stating it undermines the validity of my views and suggests I am only raising issues because I too want to buy the stock , but moreover I want to scare others into selling them to me .
Your second mistake is to assume I don't understand the numbers . See I have understood them well as I have been in communication with this CFO and precious and Chairman for over 2 years and I have asked the hard questions such as what are long term cash costs expected to be going forward . The issues with the mine and medium term impacts .

It's a discussion forum and if I talk down you talk up.

I see your argument that once the period of high capex ends then cash flow will improve . But my view issues the capex spend has been largely been funded by inventory draw down and the rest from cash flow. What is 600kt sold at an average of 95aud generate . 57m aud. That is a big chunk of how the capex was funded so the true operational cash flow was only about 30-35 m over that period