our management team did a wonderful job and produced the first gold and they have $3m in the bank, if they don’t get more money now then we might be in trouble even if we wait for thai bank loan which might come later but we need our wheels running. If you are owner of a business then you do everything to keep your business running. RSK may have offered higher discount to attract a lots of institutional investors but it was a good call. He might still get the thai loan but won’t use it (keep it as a safety if any nasty surprises comes in).
Ann: Kingsgate Equity Raising Presentation, page-25
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