1st announcenent not good 2nd good, page-37

I totally agree with Blackburn; why did they raise money on the pretense of mining when their DFS was not published? And if they did know the DFs was sketchy, and Cowden certainly gave the impression when he presented to brokers that it would all be plain sailing, then serious questions need to be asked about to where the company will put the cash it raised.

Remember it is literally dishonest to raise $50M to put a mine into operation and then to blow it on exploring for other mines (Kuhmo).

Bendigo got savaged when it did this for its "on ore development" and "exploration declines" at Bendigo, except in that case the MD resigned due to ill health before everything blew up.

So, questions need to be asked about the disclosure to investors, both for the SPP and now, and the purposes to which the money will be put. $50M is not chump change! Vulcan could buy five junior explorers for that much, if only it wasn't illegal to spend money on stuff you didn't disclose you were going to spend it on.