Ann: Proposed issue of securities - MKG, page-45

Really struggling to get my head around this company.

I could understand them perhaps acquiring an interest in an advanced Au exp project with production potential. But now they want an even bigger land holding to explore from grassroots level, yet don't have the capital to do so.

Now they're talking going back to year zero, starting the whole process all over again, just in a different part of the belt. That's another 3-4 years work to potentially lead us back to where we currently are with Napie, where we're not sure if even Tchaga will ever be economic. I'm not convinced they even properly understand the geology around the Napie project as the exploration strategy since they started drilling Gogbala has been a s$$tshow.

Definitely not putting any more cash into this company, imo there is a real danger we end up with 3-4B shares on the registry with basically nothing to show for it. I also have concerns around the way the capital is currently being spent and the seemingly zero oversight.