Ann: Quarterly Activities and Cashflow Report, page-5

Here’s why I anticipate big news within weeks, coming from an SGQ contact ...

Thanks for your text message and feedback. When raising new funds, we always consider if the equity offer can be made available to all shareholders. In this case, it was impractical to do so. As you know, we currently have a drill programme underway which is generating potentially market sensitive news every week. Against that background, it is not feasible to raise new funds through a rights issue or SPP – both of which are time consuming to prepare and must remain open for the prescribed time period under the relevant regulations. The alternative would be to suspend drilling for several weeks while we raised funds under a rights issue or SPP. We believe the best outcome for all shareholders is to aggressively continue our extensive exploration programme, and aim to deliver results to support further rises in the share price.