Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-8

I didn’t say I wanted them to keep it. I understand that it’s not worth keeping if there is nothing significant generated and I also understand that it’s not their fault that nothing is there.

The main disappointment comes from the Bethanga programme being deferred(again). Then when you add in that there has been nothing found at Granya and no significant exploration in the near term, it’s a pretty disappointing report.
They have cash and they have targets. Why bother raising money if you’re not going to drill anything?


As for the Pinnacles toll treatment…… I think that was a very thin and deep resource that was going to need underground mining methods with only 75,000 ounces all up. It didn’t have any parallel lodes/structures to help make it viable to mine.
Crusader-Templar on the other hand is all a shallow open pittable resource with multiple lodes. As far as mining goes, it should be far more viable and economical than the Pinnacles JV.