Ann: Half Year Accounts, page-111

Now, exploration companies drilling do capital raises. Here is a selection of the ones I have held or currently hold who have done a raise over the last year - AVZ, AUZ, SYA, VEC, MLS, PIO, NVA etc etc Now go to their SP and see what direction the SP went after the raise - most actually have gone up.

The point is good drill results mean the raise will be higher, poor results the CR will be lower or left unsubscribed. I understand a CR is required here, I just want them to drill as they currently have enough money for 3 to 4 drills before doing a CR (note AVZ did 7 drills and then did a CR from a sosphisticated investor btw) rather than do nothing and continue to bleed money.

Exploration companies need money to drill and if they hit the jackpot more money to mine, that is why CRs are needed. So exactly what is your point and taking AVZ the CR was done at 8c because after the drill came out SP rocketed from 3c to there, you know what drill results can bring. But agree if continue to drag their heels then any CR by GPP will be lower than current SP hence why I want them to sink 3 to 4 drills and see what happens - if hit pay dirt suspect the raise will be above this level btw, if not lower and if drill but nothing there well could be even lower.

Most understand the risks of exploration, but we are becoming not amused by inaction. At the end of the day 1 in 50 exploration plays ever make it to mining (the risk reward equation but if can't handle risk suggest invest in blue chips).

All IMO