Ann: Investor Webinar Presentation, page-12

In my mind the concerns about raising money for Peru should be minimal. Our focus should be on what is best for OAR in the long term.

Lets say OAR do a capital raise for approximately $2,500,000. Allowing $2,000,000 to upgrade the Peru Plant to it's approved 140tpd and $500,000 initial outlay to buy gold from local miners thereafter potential revenue from the site has previously estimated by an ex director at approximately $750,000 per month (US $500,000).

These funds plus any option funds should reduce capital raises from frequent to rare if any.

Alternatively we can leave Peru and other holdings we have dormant, unproductive and attracting holding costs whilst we keep our focus solely on drilling Crown, Nevada and Gibraltar.

If we got extremely lucky and Crown or Nevada hit a bullseye this round of drilling there would still be further delays till the next round of drilling, assays etc. followed buy a capital raise, followed by a reduction in the share price to match the capital raise.

If OAR was a privately owned entity and you inherited the whole thing overnight exactly as it is now including all costs and you didn't have any cash to inject, would you raise funds either buy selling an asset, raising a loan or a doing a capital raise and get the most viable income producing asset earning and funding other projects or would you go drill some holes in the ground which may or may not hit pay dirt?

If you choose drilling and got a good strike in the first round you still have to support everything from strike till payday which would be years.

If OAR was mine I would make the Peru plant my primary project, both because it makes financial sense and also because it has been over 12 months with little or no income to the local economy.