Ann: $58m Funding to Completion of Feasibility St, page-45

re: Ann: $58m Funding to Completion of Feasib... asx007, I have to say on balance I tend to agree with your assessment of the proposed fund raising, unless anyone else can highlight a different point of view.

Whilst I recognise we need funds to further quantify the resource and the current market is 'tight', I am not in favour of giving Conglin Yue such hugely favourable terms and deferred payment to cap it all off!

$30M should be more than enough to quantify the resource, etc and then go back to the market if necessary and raise additional funds at a more favourable rate to NTU shareholders....based on knowing a hell of a lot more than we know now.

Judging by the current SP, the market feels the same way...but I am still open to others opinions on this matter.

Somebody also mentioned earlier that the wet season means there is only 3 months of drilling available; this is a slight exaggeration....in reality in a 'normal' year there is up to 7-8, possibly 9 months of time available for drilling.