Ann: Ausgold raises $38M to accelerate development of the KGP, page-35

SP is irrelevant to funding. Not sure why people have this idea in their head.

Whether projects get funded or not is a function of confidence in the sector more than anything.

The below is WAF final funding announcement in late 2018 - I remember riding getting on this ride with @fbx258 around the time this funding was announced.

At the time share price was 29.5c and MC was A$200m.

They raised A$300m in debt and contributed between cash and this raise $70m in equity.

WAF NPV at the time was A$600m..... oh and it's in Burkina Faso vs WA lol

To put this into AUC terms that is like us getting to 6c by FID (hardly impossible). Also if you assume a 70/30 split on our equity requirements that is like $210m debt and another $90m equity. If we are raising at say 70c (post 10:1 consolidation) that would be another 130m SOI on top of 350m post consol. Call it an eventual 500m SOI. Spot price NPV is $1bn+ or a $2 share price (20c pre consol) with upside from either spot movement or adding more ounces.