Ann: Quarterly Production Update, page-25

they do but would you want them to go into debt at the same time they bleeding 3-4 m cash per quarter and they have that royalty dispute still to be finalized

I estimate cash to be circa 7 m , of which 4-5 m may need to be paid to settle dispute. They will need to raise 10m AUD or use debt or both

I am prepared to participate but simply saying I can’t see how they won’t need to raise funds soon. At least at current levels they can probably get away raising at 6c -6.5 c

wlth Hillgrove, I am sure they will raise the funds easily. As with most recent CRs the market is liking the balance sheet certainty and rewarding the companies by trading above the CR price