Ann: Quarterly Activities and Cashflow Report, page-43

Hi There Rhama, nice to see you are back posting on SGQ.

I agree absolutely that we need lots of drilling and drilling costs lots of money. The nature of the exploration beast is that it devours money like cattle devour fodder.

Most of us do really expect capital raising throughout exploration phases and into production phases. In my opinion, It is quite possible that SGQ may have in excess of 7 or 8 hundred million shares on issue before a sod is turned.

Raising money is a harsh reality and those who bleat about CRs should move on imo.

If we are fortunate to strike more high grade in the resource definition process or if we are fortunate to make a massive strike at Fish Hook or West End, we will still face dilution either through CRs to move to mining and/or through the arrival of an off take partner who takes a stake in the business.

Like you and the rest of the SGQ gang, I am keenly looking forward to intensive drilling campaigns throughout the first half of 2020 and that will cost money.

Cheers
Mulac1