Ann: High-Grade Zones Discovered Under the Headframe at Wiluna, page-8

That is a big point. Not taken lightly.
Even Franklin, has, or is hanging in there.
They would bail at any moment if things were not good. On huge volume.
As far as Gravity announcement, the grade was not where it was supposed to be, for debt agreement. I think it is wrong.
Over 650K proven reserves at above 4.5 kg/t. With tailings to backup.
WMX made a killing on the 20 mill. oz @$2,650 AUD. debt.
Mecuria would have to be really smart to make money on that. At the time.
NOW that the trend is down and price AUD @$2,250. I do not blame Mecuria for bailing on these $40 mill/ debt./swap agreement.
I do think the deal was extended !" to a later time. When it suits Mecuria.
Two huge problems here
1. Where can you not get finance other than Mecuruia?
2 Why do you rely on short term equity raisings to cover. (really bad). ?
The last drilling results were very good. However it needs money?
Good Luck. I am a shareholder and can sell whenever .
The latest news upon stage 1 sounds good . However no debt finance.
Keep buying and average your cost.
i think it will go ahead.