Ann: Vali-3 update, page-31

Jophda

Getting funds from the exercise of the 4 cent options would be a quaint way of raising cash, but I'm not sure it can be banked on at this stage. As has been pointed out, most of these funds would be input late in their life, and it would need some coaxing to get the majority of this cash early. So it can provide a cash inflow in late 2021, but not much prior to that.

The real benefit in that would be that these funds would come from existing shareholders, and not instos.

Vali and Odin do look good from my angle, but we will have to wait for the final log interpretation and the updated reserves to see how good. Fingers crossed for a big number.

Cheers, AL