Ann: Trading Halt , page-25

I agree with El.

Like yourself I am very eager to read the fine print and will hold judgment until then. Though some thoughts definitely come to the fore.

Do we really need a capital raising of this scale? 960m shares at circa 32 cents will be AU$300 million new cash.

Comsec shows Total Debt @ 457m and Long Term Debt 291m. Fair enough we will have paid all the equipment finance and Goldman which is great but we will still have some 150m left over for future developemnt or paying down long term debt.... If we really want 150m for future development or paying down long term debt, why not wait until markets have recovered further to get a better deal??? I think its a fair consensus that the markets are bound to improve substantially in the next 12-24 months.

Also remember we have a cashflow positive mine that can fund a fair amount of long term debt repayment and even some development. How about we lean towards a little more organic growth then selling half the cow?

Can't wait to read the fine print.