What he told me was the following.The initial 270,000 oz's...

What he told me was the following.

The initial 270,000 oz's is targeted around the granted minng lease, which gives cash flow to drill out the rest of the strike.
The market isn't willing to pay a reasonable price to raise money to drill Mulgabbi, so the only alternative would be to sell us holders short eg.cr at a super low price and dilute the bejesus out of us shareholders. No way is he willing to do that.
He knows what Mulgabbi is worth, and it's a lot more than what this market currently values it at.
He would've been raising at .02 cents to get funds to drill on gold alone, f**k that lol.
Drilling although cheaper with your own rig, isn't free.