September 16 marks the sixth month that Clem7 toll tunnel in Brisbane has formally opened its road for vehicular traffic, yet its operator, RiverCity Motorway Group (ASX: RCY), was not bent on celebrating the milestone for apparent reasons.

The troubled tunnel is used by some 28,000 motor vehicles passing through its tolls everyday but the figures were wholly inferior as compared to the company's target of 60,000 vehicles in order to achieved considerable profit.

Since the projections failed to materialise following the near half-year of running the road system, RiverCity Motorway chief executive Flan Cleary admitted on Wednesday that the gaping traffic void is bleeding the company's reserves of up to $8 million each month.

Mr Cleary also conceded that the figures so far were of grave concerns for RiverCity though he said that the company is working through the disappointing results and devising ways to maximise the current situation.

He added that RiverCity is also negotiating with its lenders to map a forward-looking plan in spite of the business current state but he revealed that judging from the company's present cash reserve figures, the toll road should be able to operate through another 12 months of financial losses.

Yet of course, Mr Cleary said that the company is keeping up the pressure in order to improve the situation as he added that consultants were hired and currently working on revising traffic projections that could help raise up the company's future earnings.

The chief executive allowed that the global economic downturn had affected the toll road's prospects plus the fact that traffic growth in the area practically slowed down ever since the project was started.