Ann: Successful A$75M Share Placement for the Okvau Gold Project, page-7

Yes, they should have gone to 1 for 15, or even 1 for 20, but I expect that some of their new investors (or Sprott) baulked at that.

And they keep talking about this $60 million Sprott loan, but nothing is ever signed.

And now they have had to go out and raise $75 million because of the delay in the $60 million Sprott loan.

What is really going on with the Sprott people?

Who is causing this delay?

And because of that delay, or inability to reach an agreement, who is now responsible for causing the company to raise on-market like this, with massive dilution, rather than just using a loan from Sprott for $60 million.

I would not be surprised to see a further announcement down the track, that the Sprott $60 million loan has been cancelled, and is no longer needed, but the $100 million acquisition facility is still available. This is what I'm expecting.

Something has not been right with the company and Sprott loan in my opinion, they seem to have been haggling over terms, but can't agree, or something else is problematic, but we are not getting the full story IMHO.

Gw