Yes Wil that’s how I see it too. Money from the loan can only be...

Yes Wil that’s how I see it too.
Money from the loan can only be spent on MGO & in particular only on items to immediate production .
Apart from the controlled drilling expense , other drilling within MGO & elsewhere needs to be funded by BSR if we are to get things underway & happening . The alternative is to wait & wait for funds from the production when available after bank repayments are satisfied. There are some very big drilling plans that are planed & ready to proceed which will greatly increase our reserves & share price .
Don’t forget that the Makabingui & South Discovery is High Grade & of considerable size 8km plus.

The alternative is sit & wait for funds from production.

IMO we should be grateful that Management has adopted this course of action & also we should be thankful that they have been able to raise this amount of capital.
Sure it’s not ideal but IMO its the better option.

The sooner we start proving up more gold reserves the better for the company & shareholders alike .
More resource means more mine life, more multiplication of figures which will reflect in increase share price & company value, & in the event of should a takeover happen the company will have more bargaining power for a higher price should it happen.

I say well done to the Management for taking this course of action & now that the wet season is over the operations will now be able to swing into action & we may be able to get some good results from drilling & progress even before the first pour.

I see this capital raise as a big positive for all shareholders & company.

Ps IMO & expectation, the controlled drilling that is being carried out at pits 2 & 1 this month please remember that results may & will take a month or more to get the assay results& assessed
So in short we have a little way to go yet before the mining will start.
But the money raised will go a long way to speeding the process to production & development of the company.

Cheers