Ann: Sale of Challenger Royalty , page-3

RSG has sold off 3 non core investments this week raising an additional $12M which brings it cash on hand up to around $115M including bullion. I know that they said that they required $50M to complete Syama but it has to be a bit worrying that they continue to sell assets and each time they do they say the additional cash will be useful for Syama commissioning! Noting that they should have money pouring out of their backside with the AUD$1400 gold price I am starting to wonder whether Syama cost and commissioning may blow out big time. It's alway's good to get rid of non core assets for a good price but I would have preferred that this avenue was taken prior to deciding on a capital raising the size and dilutionary effect that we just had.