Ann: Appendix 5B Quarterly Cash Report - September 2023, page-22

Baz, I personally think the board plus the “great geology team” have already been sorted out. I do not think you can blame the current board for the previous boards inability to count! I mean let’s drill x amount of metres at y dollars. Yeah, we have heaps of money for that. Half way through the previous board realises the costs are double what they allowed and are rapidly approaching bankruptcy! OMG, the existing board cannot be blamed for the previous board’s inability to correctly cost projects.
While you are talking “capital raising” remember the last raise some three years ago was carried out in a completely different manner as to previous raises, that is options were offered for the first time. Unlike Ross Brown and Gareth Lloyd, who in my personal opinion gave big chunks of the company away at massive discounts to “sophisticated” investors who promptly sold when there was a couple of “pips” to be made!
My opinion is the next raise if and when it happens will be incentivised for existing holders.
Noye I have changed my sentiment to BUY from hold. And I will.

Beach