The fairytale is that:1. They used funds for producing instead...

The fairytale is that:

1. They used funds for producing instead of developing a resource base.

OGX copycat?

2. At historically high gold prices with minimal exploration costs they remain unable to turn a profit.

Astronomical ASIC?

3. Instead of seeking a JV for exploration or selling off assets to raise funds for exploration they decided to bid for CTL.

Why buy what you can't afford?

4. They continue to delay a capital raise.

Why delay?