Ann: Pause in Trading, page-30

I've given you a TU because I think all you said is right with one point I'd like to provide an opinion on.

I think good financial discipline means they will do a raise on FID. A small one and it should be a rights issue. SH like myself should avail. themselves of it showing the same discipline and confidence.

Thing is, when you start a new mine is the point of highest danger with all borrowings out and no cashflow coming in. Any delay or slow start cruels you. You really don't want to do a cap raising then.

I was holding off on lifting my holding in Regis till last week. At that point I thought it was too attractive even with a likely cap raise later.

Getting rid of the hedge and the Gold price rising has helped a lot. The banks may demand they have some hedging though for their borrowing.
Alternatives are forward sales and put options. That it's gold, quasi - money, helps.

GLTAH.
Ps . I've had an interest in the project since it was discovered inside Alkane. In Tropicana via IGO too. Less so the Duketon asset's but knew the history which goes way back, past Mark Clarke and Nick Georgietta before him. Damn glad I didn't suffer all the pain like some of those I fell for though. I had my own pain elsewhere mainly in Cu.