dear mr. taig, page-14

Hi Pinto, I wonder did they make much effort to secure funding from current major holders...were you or Derham approached?

hands up how many people would back a cap raising at 3.5cps on a 1.2b shares (about 1 for 4) 20% dilution raise a bit over 40 mil after expenses. with 2 attached options to secure additional funding on positive results...perhaps 1 option at 7cps with a 1 to 2 year expiry & a second at 15cps with a 3 to 5 year expiry. allowing an extra >$80m funding in the first tranche & >$150m in the second to pay for a new mill, roads, everythying needed for production.

you can play around with the numbers but you get the idea.