Ann: Operations and Corporate Update , page-8

IMO previous substantial holder still has some shares to sell and wants to be 100% out. Some large sells going through in the past few days similar to those in the previous weeks.

Annc provided some clarity and provides more evidence that the company won't be in liquidation / administration, at least in the near future. Assuming "overall debt" is made up of cash less borrowings and doesnt include the non-cash long term liability, this assigns an EV of $12m at current levels. Are assets worth more than this? The half yearly indicates they are much higher.

I also assume that $10m debt by mid-year takes into account all revenue from the mining plan being received?


Management seem to be bad at mining but OK at exploration. Let's see how good they are at striking deals.