Ann: Trading Halt, page-60

Guys, I think many of you are missing the point / talking the deal down for your own purposes. This was the right thing for the Board to do.

Juniors/explorers / pre-production should not be funded by debt. How many loan-to-own examples do we need to see before we accept this?

This could be one of highest margin gold producers in Oz in 3 months time ....will be processing 11g-13g/t, 97% recoveries at $690-$790 opex for goodness sake! Should throw off A$30-35m pa at current A$ gold prices.

$5m "hard"capex, the $11m pre-production are included in the opex/AISC numbers.

AISC will be $A750 - 850/oz .... 50-60oz for first year open pit .... resource 640,000oz @ 11.7g/t ... likely open pit scenario for 2-3 years ....then u/g?

Well funded with $8m available for working cap and the company highlighted its exploration targets in the pres:
- Vampire Prospect
- Old Glory South Prospect
- Bandit Prospect
- Casa Prospect

Whats not to like? Suspect this is the cheapest the shares will be for years to come. Take your 1:8s and buy some more on market. This company is at a stage where soon will graduate onto institutional registers.