option c, page-4

The options presented were, SD or 30mil dip into the candy jar, they didnt table running within means.

I think raising debt with strings attached int worth the bother, do we want a third of our prod at 1300/1400 per oz?

I gave an option that I thought in my clueless opinion was doable, to have an underwritten cap raising for 40 / 60 mil with teired tranches of listed options to provide secured funding as we progressed & thereby removing any noose of price suppression pending cap raising, also if we can prove up TI with the first raising then it will be pretty hard for anyone to suppress the SP to make the options fail & force us to look for money from instos.

Also minimises dilution; for example:
1.25 bil shares at 4c $50m (yes I think it can be done with the options)
1.25 bil options at 8c $100m
1.25 bil options at 12c $150m

3.75 bil new shares at average of 8c to provide $300m with less dilution than the SD deal & oportunity for all holders to maintain their %age of company.

win win, no loss of control, explorers get their play money, SP rockets on potentially fully funded swiss cheesing & digging of lake cowan, board redeem themselves in the eyes of disgruntled holders, pinto gets his herd of elephants, CW comes back to post about the lake that will dwarf St Ives :) (maybe thats ramping a bit too much)

Anyone ready to vote no & get this party started?