Ann: Carlow Castle Update and Proposed Capital Raise, page-13

As I have said all along the overall resource at Carlow Castle was never in my opinion a robust mineable proposition and it is worse than I expected. But within the overall resource there are some very high grade gold shoots with good gravity gold content that could be mined and processed through the Gekko plant to generate significant cash flow. Plus Weerianna which is a great little inferred ore body ready to roll that can be mined profitably-- along with other discreet resources in the area. Even Novo would now come cap in hand to do a deal on Purdy's and Comet Well where considerable gravity recoverable gold in the core discovery areas can be mined and processed. Then they can sell off the ore sorters for scrap.
But in typical London fashion ARV want BIG projects -all the while tapping shareholders for more funds chasing the elusive dream whilst millions in easily generated cash flow remains in the ground. I would have thought Boyd Timler would understand that with his past experience at Co O . Get some practical people on the board and mine the discreet high grade -then use that cash flow to ramp up for more ambitious endeavours.