Ann: AGM 2011 Presentation , page-23

From what I can remember that was about 4 capital raisings ago.. Pala's plan was to consolidate a group of miners and deposits in the eastern goldfields (namely Avoca, Dioro, La Mancha, Integra etc). There were plenty of hiccups along the way (such as IGR's 'defensive' move) and the end result of this was Alacer Gold (AQG)... hard to feel that if we hadn't been swallowed into a larger, more financially stronger group at the time with a scrip offer or merger, then funded Randalls from group cashflow, as shareholders we would currently have been much better off...