Ann: SPP Offer and Issue of SPP Prospectus, page-113

Stoker I posted above the fact that IVZ need ~ 19 million Au for the drill programme and we might have that already.
At the last quarterly we had 7.3 million, lets say =1.3 for spending = 6.
6 + 5.5 [ maybe 6 ] from this raise.
11.5 - 12
11.5 + Cluff share of back costs [ based on 33% funding and 12 + million USD quoted in the last presso ] ~ 6 million
= 17.5 - 18
There are about $10 million in options out there as well.
IF the sp goes to 20c say I have no doubt that a very large chunk of those options, especially these 14c options, to be converted, which there will be a minimum of 31.8 million up to 36.8 depending on the SPP raise.
These alone would raise ~ 4.5 to 5 million and I think there is ~ 6.5 million in 17c options from the last placement.
Even if 50% of the 14c options converted would see us with enough cash.
The reason I went the full amount was because of this.
The point is I doubt there will be another raise IMO.