Ann: Quarterly Activities and Cashflow Report , page-11

Carboy I can understand your frustration. I have chipped into every offer the last five years, but i cashed out pretty well the lot last year when it had that big rally and bought back in about six months ago

I am keeping some powder dry for inevitable rights issue.

My guess is 80 to 100 million finance and the balance equity. Hedging can be flexible so the downside is protected but the upside not entirely given away

Personally I believe we will see 2000 gold by the time financing is in place

If they go the 2mpta option Payback is under 18 months at that price and the mine will generate double the current market cap in pre tax free cash flow every year, and that's after allowing for a further 50% expansion in issued shares

What to say?