On the face of it, this appears to be a very ambitious and...

On the face of it, this appears to be a very ambitious and encouraging development.

Issuing of so much paper to pay for the acquisition appears excessive given the dilution effect after the recent share consolidation, unless some cash flow positions can be tabled. Ignoring the options it appears to have been secured at a 10-15% discount to the original debt of the vendor.

My rather brief reading fails to show what revenue is expected from the future production and clearly, the directors would have some indication of what that position is.

On the basis that it is an Alaskan high revenue proposition, then the amount of paper issued becomes less important but, it should in my opinion, be clearly set out.