aphrodite gold priority offer, page-2

probably not a bad punt for eye - ie the 20% option. one way, or the other it is a bit hard to complain about the issue. the funds to purchase the deposit, came from an issue of shares at 10c. an issue at 20c, is par for the course. watso has not looked at the prospectus, but a few weeks ago,, he did have a good look at some report (it could have been an old axm report, or old ngf report). the gold is obviously there (about 1m oz - maybe more) - and the grade is good. the original idea, was that this would provide feed for the apex mill at wiluna - the grade was good enough (which could have been upgraded) to justify the transport costs. keep in mind that it is refractory ore - but at the end of the day, one simply does not know how it will

a raising of 50m shares at 20c, probably seems about correct