Benmoff, they stated dividend was paid from profits, but could...

Benmoff, they stated dividend was paid from profits, but could also argue case dividend was paid from borrowings. Company had good sales income but also high develepment/exploration costs (last year anyway). Looking at cash flow for the year if you remove borrowings they do not look cash flow positive. I do not mean to be critical of their development expenditures and borrowings, in fact I much prefer borrowings to share dilutions. My preference for a company at this stage of its development would not to be paying dividends but then again others probably prefer dividends now rather than look to future capital growth. STU making gutsy move with Bazzard drill and I am watching closely, any positive news and I will probably jump on board