heading up, page-15

Discoveryman,

The BRR interview did not mention that there would be no capital raising. I interpreted that from pretty much every report issued where Darren has stated that growth will be organic ie trial mine will pay for stage two which will pay for stage three et seq.

You may also care to review the details around the ANZ loan. ABU did not solicit the loan, in fact from memory (you may wish to read the ann and confirm) four institutions approached ABU offering loans. ABU chose ANZ as the best offer with an interest rate way below anything most companies could hope to achieve. That in itself says something about how confident ANZ are of success.

As far as your comment goes that they are short of cash, I doubt it. I can't remember what their cash position was at end Sept, but it was not bad AND most of the trial mine had been expensed already. There should be at least another $4m income from trial mine by the time it is complete which should certainly last quite a while. Certainly well beyond receiving mining licence.