RM and Mgt had a very strong inclination which is now supported by recent newspaper articles that the "process" for getting PL back at Isabel was VERY close to being finalised and that they are in a very strong position to be re-awarded the tenement before end of August or early September... Further to this, it was no secret that they needed cash to get them through the upcoming 6-8 weeks from admin perspective and that we'd need further funds immediately to recommence works at Isabel should we be successful... BUT they also knew couldn't come straight-out to the market and raise cash for the purpose of recommencing works at Isabel because at this stage we don't have rights to the Isabel tenement, the market is unaware how close we are to successful application and given fact they've been blindsided by unexpected change of plans by SIG in the past (with no plan B) they decide to raise funds (recent CR) with market explanation of commencing program at San George... RM even tips in 200K... all the while managements PLAN A still is and always has been to mine Isabel first (knowing full well they'd have it back very soon) and use cash generated there to then fund program at San George down the track.... its actually brilliant... they now have immediate funds ready and available to get cracking at Isabel should it come back online with no delay and they also have fall back insurance plan (PLAN B) to go to San George as they indicated to the market they would if things we're delayed further or didn't work out with Isabel tender... this theory is fully supported by recent job advertisements, recent immediate hire of ex BHP Mr, Ken Stien to oversee mining operations in SI, the recent ANN on 25/7 Company Update and perhaps bullish SP action of last month or so...
