Financing options and newsflow, page-4

Joe, the market hasn't the appetite for small cap miners let alone one trying to arrange finance for the world's coldest mining project. Hence market cap of $31m.

The NPV is what it is, and likely conservative. Do the research on the ore body and fact the bankable feasibility study is based on exploration work performed to date.

Suggest the financing will be fashioned as stated, that's why Cutfield Freeman were engaged. That's the gist of the update. We'll see if it is doable.

Not concerned about Glencore and Nyrstar in this context. Doubt they will or can block the financing initiatives.

Point is the stock is way undervalued, particularly if the market sees the financing taking shape.