Ann: Execution of Key Property Purchase Agreement, page-8

Methinks they need to get the MRE out very soon if a CR at that figure is to happen.
Surely enough drilling done to put one out with “open in all directions and depth” as a caveat?
And I don’t see the need for a sizeable CR at this point really.
Announce the MRE and raise off the back of it once the euphoria has settled a bit and it has the probability of being over subscribed. Continue drilling the regional prospects and get the scoping studies and DD completed.
Hopefully it is a strong MRE and we get back to at least last years highs and then back it up with some promising results elsewhere.
If we go down the road of mining the deposits ourselves we will need mucho moolah so leave the large raise til the extent of the deposits are known and some deep drilling confirms high grade deposits to justify going underground after the open pit has been established and plans are in place as to where to attack the high grade veins from are formulated.
Meanwhile the hawks will be circling so it may all end up with an offer from a Tier 2 miner
Too much dilution now will affect shareholder return in the event of an offer and it’s not like we will be building a plant anytime in the next couple/few years