Interview with Simon Lill MD De Grey Mining, page-5

Did it sound like the PFS is coming anytime soon? In no hurry to start construction and production? What Simon is saying is the financiers won't loan any money until De Grey hits 3 million ounces. What Simon is saying is production is 5 to 8 years out. To me, it looks like $3 million per quarter for exploration and admin for the next 2 years to 3 years to hit 3 million ounces (no guarantee there). Add in 10 million for Indee payment and mgmt will need to raise $34 million in the next 2 years. That's 340 million shares at 10 cents. De Grey will be at 750 million shares in 2 years. Don't see any hope for a SP increase unless Novo proves the conglomerates are economical and De Grey follows up.