Ann: Trading Halt, page-42

Could find an international partner with the ability to take the project to development rather than raising money at lower and lower prices from sources that dont have a good reputation. They have not done much for the amount spent this makes the total about $17.5 million with total dilution of 50% + of the company, shares before 780 m shares now 1.492 m plus lots of options + 100 m vendor shares still pending.
Then where are we ? Seems we are a long way from a mine and even further away from the money to build it. With a company worth $20 million and this figure is what they will face when trying to get the money. Needs 12 x the MC to develop it.
Need to get outside the Philippines for that money as is several listed companies in the Philippines still trying to get funding some been trying over 20 years. Even Chevron has opted out of that geothermal power station at Kalinga selling there equity to a Philippine company.
The new President is keen to get mining going in the Philippines so i guess the government will help to attract the big investors that can get those big projects up.