Ann: Operations and Development Update, page-187

Looks like someone that was in the line at .6c moved their order up to .8c. I don't think it's a leaky skip this time around, rather just someone that can see the value and potential once things finally get going. I'm waiting on the quartlery before I invest anymore as I want to see how much cash they have left.

When they raised at 1.1c they would not have anticipated having to spend $200,000 (a rough guess) on a crusher for Granville and at that time of the raise they would have been expecting cash flow from Granville at this stage. Below is from the Capital Raise Announcemt.

"The combined funds raised will primarily be utilised for Taronga Stage 1, with the balance utilised forfurther exploration at Mt Cobalt and general working capital. Notwithstanding near‐term sales revenuesfrom Granville, the Company will require additional funds to lodge the necessary financial guarantees forenvironmental bonding associated with Taronga Stage 1 and undertake mine establishment and initialmining and ore reconciliation. The Company is working to finalise the outstanding regulatory approval and once received, the combined funds raised will enable the Company to commence Taronga Stage 1. The Company considered it prudent to commence the capital raising prior to a Federal Election and beforethe end of the financial year."