Ann: Complete Funding Package for the Murchison Gold Project, page-17

I agree it seems like a lot of interest, but not compared to the alternative!

I consider the current SP to be significantly undervalued. So if we had done this via more dilution, the impact to shareholders is significantly more than $8m. If you issue another $26M in equity and the share price rises 4x then you have given up closer to $100M. You would also be providing more equity to sophisticated investors, making the ability for an opportunistic takeover higher. It is peanuts to get this mine up and running, we want things moving quickly as the gold price and profitability is high right now. It also contains offtake at spot price, which if you think the gold price is going higher is of significant advantage to hedging.

I think this is a great outcome by management, and now short wait till Dec drilling, updated DFS and then mining