Ann: Press Release - Equity Offering-TGZ.TO, page-3

As you rightly stated, Senegal is slim margins and these guys need to develop Bonfora quicker. The project economics i believe in DFS is understated in many respects and needs 1400+ USD gold. So does Senegal to see it worth it is while. So if offered the funds, they will take them, and for 1.06 or whatever it was, i think it is a good deal for TGZ. Cash up now before anything in the unknown occurs.

IMO they remain a optionality play on higher Gold but not alot higher like PRU.

1400 Gold and they will be doing well, anything below, they are scrapping the bucket.
GRY was lucky as management was bottom of the barrel type.