Ann: Redlings REE Exploration Update, page-59

I hate dilution as much as everybody else. If we don’t sell the Clayton tenement there will be a cap raising, in fact prudent management says there has to be. We have 4 million now but current Redlings drilling (and if it goes as well as we would like, follow up drilling) costs serious money. Heaven forbid that both Redlings and WSP turn out to be dusters, the sp will fall through the floor ( our two major prospects gone) and we will not have enough to drill Mt Clement or Yindi. We would have to raise a few mill at under 1 cent if you could find someone to put up the money. Personally I rate Mt Clement as highly as Redlings. Effectively if we don’t cap raise or sell Clayton Valley and Redlings and WSP are dusters we are out backwards. I don’t like it but it is reality at this end of the market.
It gave me no pleasure to support Adam A before the last cap raise and it gives me even less this time. A lot of posters said we did not need a cap raise last time but if we had not raised we would now have just over a million left, not enough to start the Redlings drilling that we are doing. Let’s hope we sell Clayton Valley for the equivalent of a cap raise and more. Spare me the trolling just because you don’t want, or like, the reality.