Ann: Trading Halt, page-32

Hi bobby,
as I posted about last week and you mention, a raising was on the cards and required to fund the actual development of the pit etc.
$22m was the number mentioned by Alex in the last interview I think. Not sure if I agree about your point on Alex getting the jump on others, but I guess I can see your point.

Whilst the options have been able to provide a sort of bridging finance until now, the heavy spend is about to begin and... from what I can tell, this has not been discussed, the actual mining of the pit, is in stages and those stages have different grades. i.e. Stage 1 is the lowest grade, simple as that.
(best to listen to Alex in the video presentations, when he goes through the mining stages and grades).



Plus, the pit takes time to ramp up etc.
So cash build will actually take a while to... well build.

I have no doubt there will be a good amount of demand. Just a matter of terms... perhaps $20-30m at $0.014?
Just a guess. Debt facility might be utilized too, so perhaps less dilution.

Better to raising capital when the share price is moving higher, than... lower.

Hopefully this also enables them to drilling more holes whilst the development steps up... the 'best' developers know that you don't stop drilling.

Good luck to all holders.