Ann: Non-Renounceable Pro-Rata Entitlement Issuer Prospectus, page-28

No doubt they will get much more than the 90m shares uptake that is needed above what is already in the bag via agreements.

Maybe a good time to skim through the prospectus once again, lots of things in there I like.

While Troy turned out pretty much as expected over the last few months, I am rather shocked about the performance of others. Omai e.g. with a collapsing share price. Or Barrick with not being aggressive enough while still stating they are interested in elephants only. 8 km in strike length...

This property has very limited drilling as most of the drilling was infill drilling for the existing deposits. Second mistake? was RC drilling vs DC drilling. Cathedral *only* used DC. Half of all drilling was done by Troy. most of the other half by Azimuth.

This is elephant country, but it takes perseverance and lots of cash to find something meaningful. Imagine South Africa in the 1930s. Drilling that single hole thousands of meters deep and then hitting 0.5 - 1.0m at 30 g/t. Here the problem is not depth but lots of nearly inaccessible area.

As for Troy serious exploration for that elephant might not be possible anyway, but mining underground - which seems pretty easy once financing is in place - will open up the first window into the geology at depth. And the deposit is still open at depth.

The Guyana shield is the final frontier in gold mining, so far following Pork Knockers was not that successful. Too much weathering. Going underground will leave all that behind.

We will see.