Ann: Hog Ranch off to a great start, page-23

The way they have burned all the other capital raised since 2007 no bank would
see that as a good track record and to become a risk taker . With no income from Hillside and
Hog Ranch in the near future the chances are that the bank advance would also be burned
in quick smart time . So the route of raising funds through the banking system doesn't look
good either and Rex Minerals only salvation is to get the PEPR over the line and for copper
to make a comeback . If the bank did advanced Rex some capital within 2 years the bank
would foreclose the way things are going . I think it is getting to a serious situation now so
if the Directors want to see another couple of years of getting a nice pay cheque they better
up the ante and do a lot more to get Rex up and running .