Ann: 50% Cu in blast hole drilling at Las MInerale, page-36

SB1

The main issue raised in the AFR article was that $50 to $100 mill would need to be raised through equity . When management responded to the article, they chose to refute petty issues but did not state that they would not need to raise any more funds. That should tell us something.

The AFR did not put a time on the raising, now did they say it would be all in one hit.

So what if the week after the AGM they come out with a $20 mill raising, then you have to add how much is still to be paid to Sino by equity and IF they go for a $20 mill raising, will management declare that is it , no more dilution ? I doubt that they would put themselves in that position.

One can only judge how correct the AFR were once the plant is commissioned and running and cash positive.

I would be expecting the company to commence proceedings against the AFR if the equity issue is incorrect as that is what hit the share price not timing of loan draw down or raising a Singapore listing.