shes on the right track..., page-4

Ako,

You are correct in saying that an equity raising will unlikely happen to fund capital costs and working capital for the likely development of Wombola.

PVDB did state as such, however, a resolution was passed at the AGM for a possible issue (15% of share capital = approx 4.47 mill shares). Mgmt want to keep the share capital tight, hence cap raising may not eventuate this financial year.

Tight capital structure = good for shareholders in that they will receive greater leverage to any re-rating the company receives from the market before, during and after likely gold production and cashflow generation. This likely cashflow will enable Cortona to fund aggressive exploration to chase a large gold deposit similar to a 'Kanowna Belle' in a similar geological setting in the Kalgoorlie gold-belt district.

A definite medium term hold! As always, DYOR!

Cheers Freakme



made just in case