Ann: Philips River DFS Indicates Long Life Operat, page-5

re: Ann: Philips River DFS Indicates Long Lif... All looks good but really only confirms what we already knew. So not surprising that there was little effect on share price.

Next key moments for the SP will be announcement of funding but that also can be just about taken for granted. It will take some good progess leading up to construction and production, some good drilling results in the target areas or takeover/merger interest to see the share price climb to levels seen in the halcyon days of RAV8.

As all of this DFS was a fait accompli many months ago I still believe the share price rise has been influenced by other factors????

Interested to see the DFS stated in black and white a debt/equity split of $40m / $100m. This could mean they have high confidence in the equity and forward sales components of the funding and will keep debt at a very manageable $40m. I imagine the majority of the equity component will be with existing or new "cornerstone investors" and a few available to existing loyal shareholders.

I took some time to again read a little about the earlier history of Ravensthorpe/Kundip and surrounds........very interesting and it just indicates what a prospective area Tectonic has. The early history and opinions and limited amount of any significant moddern exploration and mining could mean we have hardly scratched the surface yet.

Another small step today.