Ann: Trading Halt, page-25

I'm surprised. I thought they had enough capital to continue with all current developments, as well as revenue from gold operations. I did not expect any further dilution, so I'm not sure what is happening here at the moment, but I'm prepared to wait and see what the capital is to be used for. I do note that usually when there is other transactions associated, like M&A, or buying the EVN stake, or anything else, then an announcement is nearly always released together with the capital raising announcement. In this case, there has been no other announcement, so it may just be a small capital raising simply for working purposes. They may have been offered the funds by an institution unexpectedly, and decided to take it. Just the same, I'm wondering why they need the cash, because they had about $15 million in the kitty and gold revenue. This may cause further dilution. I'll keep an open mind until I read the announcements in a couple of days, which should be interesting, especially the justification, and I hope it's all made very clear, and we don't need to try and read between the lines. I'm also a little surprised by the stock price at the moment, I thought it would be much higher but it hasn't had much traction recently. I hope the raise is not under 7.5 cents, that would seem to be a travesty if it happened at a low price.

Gw