Ann: Renounceable Entitlement Issue to Fund Drilling, page-2

I actually really like this raise

It is going to current shareholders so you can avoid dilution by taking them up

Good size raise with $1M and $600K underwritten

Directors taking up their full entitlements

Proceeds will go to fund gold exploration at Harris and to test Finlayson gold at Yerrida. With some luck GTE will have sufficient funds to put a few pilot holes into the Potash also at Lake Way.




Have to say I am extremely pleased this isn't a placement to sophs or an insto.

Everyone can take part in this and increase their equity or avoid diluting themselves.

You would think this would last them at least 6+ months and in that time they do a deal on the potash.

Good work GTE management.