Ann: Extension of Security Purchase Plan, page-94

I’m starting to lean towards your sentiment but you’ve made some gross exaggerations. If the Gekko was to stay at it’s initial size (30tph) it would take one single decade to process Kat Gap (975,000 t), operating 16 hours/day (2 x 8 hr shifts) for 200 days/year (40 weeks @ 5 days/week). In such case, this would allow 12 weeks for downtime relating to holidays, maintenance and servicing. However, the Gekko system is expandable to 250tph; I doubt they’d ever get that big, but if they did, it would take less than 18 months to process the full Kat Gap resource, assuming it didn’t grow over time (which it very well could).

Now, SOI would NEVER get to 100B, let alone 500B, investors would simply stop putting money in and no one would accept shares as payment. In saying that, if they were actively mining, why would they still be issuing shares? Maybe the odd raise to fund other projects, but in excess of quadruple current SOI? Not a chance. In reality they would likely do a consolidation the moment they start actually mining, reducing that number to a mere fraction, so it seems you just like to throw around grossly exaggerated numbers, without actually thinking about it.

Yes, the greatest uncertainty is between now and actually starting to mine. But if they get there, greener pastures will be ahead, thereafter, IF investors support them long enough and they improve their business practices. If they have an active income stream it’s in their best interest to grow the SP (and their own wealth), rather than issuing to pay their relatively meagre wages, holding back the SP.