Raising??, page-9

Unfortunately My learnerd friend the company did try to dilute, it was disscused at a board meeting so I am led to believe, that either major refinancing was needed or conversion. Mike Menzies the glencore board member was present told Got out of there and told his hiarchy, they balked at the idea and glencore started The court proceedings. Furthermore Glencore DO NOT want shares in Aurelia, they want there investment $$ back! Glencore will only want the conversion of shares if Aurelia can prove there is 10-15+ years of mine life at HERA and so far that resource runs out in a few more years why the hell would they let them convert. You are a fool to think Glencore will ever let them convert.

The only way Exploration can take place is if they do a placement and Dilute shareholders AGAIN. a good exploration program which they are in dire need of would require upwards of 3-4 millions. GC won't approve especially when contractually all cash is to go to rectification of plant and stabilising company having cash reserves for future issues and repayments. Any excess cash could go to exploration but would require Glencores approval.

Read between the lines of the announcements and get out to the pub at Nymagee. After all this board should still be held to account for the mistruths it told. And who knows could very well still be telling The shareholders them.

I would love to see there cashflow forcast, I bet it's highly leveraged and with more risk then they previously had. The current gold price maybe good atm, but late this year or next it will come crashing down. And not unless we hit another GFC then US interest rate rises cant be avoided and it will bring the gold price back down to $1000 us an ounce. All I can say is if they don't bank the cash now when this happens then the show is over.

If it wasn't for the great debt and the very short mine life then who know the company could be valued at 50c. Maybe with the Turnbulls company tax rate cut they will pay that debt back quicker or employ some decent mets...... Who knows?

Otherwise circa 22c tops.