Ann: Capital Raising Program, page-28

Could be worse as it could be another CN. Would have preferred they find a mainstream loan but I suppose that was always unlikely to happen. Well 250K won't go far as it probably covers the CEO's wage for the rest of the year. What I find interesting is their change in sentiment on Granville and I believe there is a chance of it being sold off instead of finding a way to make money from it. That will probably be the easy option and with this mob ,the easy option is probably the way they will go as I don't see any chance of them taking the hard option of actually making a go of it, whether that be continuing to mine it (and taking advantage of reduced costs,apparently) or getting in a professional outfit to do the job. And this is after all the millions they have put into it.

I think disposing of Granville will only get you survival money and buy some time but the bigger question is how do you then find the cash to develop Taronga? I would prefer they sell off our nickel/cobolt assets, but I think they will keep these assets in the DGR stable if you get what I mean.

Christopher