Ann: Voluntary Suspension, page-18

I think this is being over analyzed.

Firstly I concur with Observing and others who have said that dilution isnt a great thing. It isnt however if it is to be done, it should be done prudently and at a strategic point in time. No point doing it for s@#ts and giggles. I think Justis might have said this in a round about way.

Secondly although TRY still owes Investec and creditors, there is enough cash, gold equivalent and gold in reserve for TRY to mine and be debt free. Would there be enough easily accessible gold to provide returns to SH based on current LOM, probably not. Without funds to develop prospects, it would leave a lame duck company ready for another player to snap up at a discount. The infrastructure is still there, still in the same highly prospective area. Someone would buy it, all just a matter of price.

Which leads to my last point, the CR. It is the simplest and cleanest way of ensuring that TRY have enough funds immediately available to avoid the aforementioned scenario.

If SH are so adverse to it, why dont SH help out by reaching into their pockets. If SH want TRY to have half a chance moving forward, the capital must be raised. Otherwise TRY borrow the funds from the market, possibly creating another debt situation that lead TRY to being near insolvent in the first place.

Also Terence hit the nail on the head regarding a tree shake at 10.5c. My thought is that the situation is being handled appropriately.

I could be wrong and the CR falls through or it happens and the funds aren't used productively as we have speculated however based on what we know the company needs the funds and will get it. The rest is noise at this stage until we recieve clarity from the company.