Sellers Galore, page-15

Hi guys
I spent time going through quarterly and I think we need to be careful assuming equals cash flow . There is a big disconnect. Although I do think cash flow will still be positive to the tune of 30-35 m this year , there is still a bit of capex - around 30m as they are looking at doing some more upgrades on the mine and fleet After speaking to company about sustaining capex , I think we need add 15-20 dollars AUD c1 costs to cover this so this will help us in our cash flow projections being more accurate. There is as I understand one major insto selling down at present. I am going to be patient and wait for a sub 17 buy ( if it gets there ) but based on this more detailed analysis I think expecting 30-35 in annual cash flow vs 70 plus is more accurate