Ann: Trading Halt, page-11

Everything now depends on Haile delivering a low cost operation.

I think they did the right thing in doing a CR now just in case the gold price were to fall back to USD1500-1400/ounce and there had continued operational issues with Haile, possibly from COVID. Macreas is a high cost operations (but will deliver useful cashflow for another 7-8 years), and probably also needs some capex for mine development to access new ore bodies, in addition to expenditure on Waihi and doing whatever is needed for Haile.

Given general market uncertainty I am loath to enter this doggie, but may consider it if it gets really cheap. May be best to wait until the September quarterly report has revealed the dross, or some time after the US elections.

At least net debt will now look much better, and they now have some cash from which to pay shareholders their 1 or 2 cent annual dividend on fictitious accounting profits.

Good luck all.

loki