Ann: Ballarat Gold Project - Mine Plan Revised , page-5

re: Ann: Ballarat Gold Project - Mine Plan Re... loook at NAV if you want to see how cpaital expenditure means nothing - Navs mine was built at a cost of over 200 million dollars
Nav went through what CGT will go throw - ofcourse shouldnt be as bad as they have no debt to clear but simply a significant capital raising is needed because the company is unlikely to be cash flow positive for a long time.

Try and read the ann objectively - it has many warnings. they are essentially saying they need to prove they have a commercial mine, they add many disclaimrs in there which is worrying and any implied NTA that ALEX and others refer too needs to be dliuted by whatever the CR will be. When a company says significant expect a trippling of the share base and a CR around 6 cents or less

sorry folks, but foryour sakes be objective

Alex - coped it on NAV and this, best to stick to low cost prodicers and preserve capital imo