Ann: Early Phase Drilling Confirms Epithermal Sys, page-8

re: Ann: Early Phase Drilling Confirms Epithe... Money raising kind of depends what happens with the Turner River farm-out. In their last Qtr report Polymetals said two key things. Firstly that their initial progress with a scoping study was very positive and secondly that they had notified DEG of their intention to form the 75% Polymetals owned JV in the June Qtr now that the expenditure requirements had been met. Presumably, despite the proposed merger of Polymetals and Southern Cross, that JV establishment will go ahead. If it does, they are likely to then but the Wingina Well deposit for the agreed $4.5 mill, which would save DEG needing to capital raise for awhile. But given the merger, and a sliding gold price, this might be somewhat delayed. I'm certainly hoping for good news about the JV soon though as the June Qtr is nearly over.