Ann: Investor Presentation, page-27

Dont forget the option of a stream to replace the debt. DR said to me this is his preferred option .... paraphrasing "it would add $50-60 to AISC but remove debt". I know all the negatives to stream finance but in this instance I dont mind it. Imagine if this company was debt free, that would change things drastically and immediately.

The issue I have is the financial reality that at $50-60 p.oz (equates to ~2% stream/royalty), by my numbersthe financier would want to see probably 2.5M+ Oz to get an acceptable return on payout of 102M Macq. I dont think the financier would have enough confidence in that outcome right at this time.