Ann: Management Changes, page-165

A capital raise and significant dilution will be the next chapter -the alternative go into administration. The latter must be an option to preserve its assets for an orderly disposal to reconstruct the company to focus on gold at Carlow Castle and commissioning of the Radio Hill plant -presumably the desired objective. The company's current holding costs -expenditure commitments -administration will preclude any diamond drilling or exploration initiatives without additional funding. I doubt ARV will be of interest to Novo in the absence yet of any defined resources at Purdy's unless the structural gold at Carlow Castle was seen as complementary to Beatons Creek and a fall back position for Novo as no conglomerate gold resources are yet proven.