Ann: Subscription Agreement for $1M with Black Cat Syndicate Ltd, page-14

Didn't think they'd be raising, hence why I bought a few more on-market.

In saying that, like everyone else, glad that funding will now be out of the way, and they'll be able to "keep the light on"...

So, $3M more coming in, including $1M from BC8, and $220k+ from Board/Management.



Other cash:

- $523k in the bank at end of qtr.

- $225k also received from CTN on completion of deal (last week).



Other potential cash coming in:

- $x to (potentially) come in from disposal of Illaara (assuming cash is included in the deal).

- $x to (potentially) come in from a further deal/deals from Bresnahan (assuming cash is included in the deal).

- $x to (potentially) come in from a deal on the Ni-Cu-PGE at Mangaroon (assuming cash is included in the deal).

- $x to (potentially) come in from a deal/deals from Kimberley (once they decide what to do with Kimberley - I'm guessing they have (different) options on the table are assessing what to do).

- $x to (potentially) come in from signing of processing deal with BC8 (ie. something like prepayment of gold production to DRE, for a larger share of profits at the end/when mining begins).



Reduced costs (dollar saved is a dollar earned):

- $x in expenditure reduced from reduced tenement holdings and annual rental/minimum expenditure costs.

- $x in cash expenditure being saved currently as Directors (fees) aren't getting paid in cash (paid in shares until late this year (ie. until after gold mining begins).



Cheers,

GB.