Ann: Renard Project Update, page-109

WR1 IPO 142m FP. - hazzard a guess at 3mt Cancet.

WR1 today 215m FP. - 78mt at Adina.

How did we get there with such a tight ship ? tight equity ? tight register ?
We raised funds with up to 2x cash for capital with CFTF, and we get a 38% rebate on exploration dollars spent to respend as we see fit.

Now look forward, to picking up a near 1 billion dollar capex Renard for 52m, and perhaps a modest 200m or so further required. (PEA to clarify)

But what would 1b in capex dilution do to the registry of any other peer ? Destroy it.

Go peer suck that kev.