Ann: The DRIVE to 100 - OBM Corporate Presentation, page-14

The capex required isnt huge and likely could be done via debt. We arent talking huge net debt positions. Red5 has 160m net debt, most projects go into net debt when entering production/expanding production and look to pay it off rapidly.

If you take the midpoint of guidance for this half thats circa 15m in profit. which pretty much funds the 20m in CAPEX. That 20m number is the number being floated around. If you look at the mine plan once the portal is cut we are at ores almost immediately.

A raise is not necessarily needed but couldbe pursued depending on how aggressively they want to pursue a 2nd underground operation and the accompanying further shift in production profile.

Hawkes Point own almost 50% of the stock and LC owns 50m shares. It may well be in everyones best interest for hawkes point to fund via debt. Their investment has increased in value from $20m to $70m since LC has joined.