IMO,
I would like, in the mean time, to scrap the Loyalty Issue, no one is buying at .45cents in the near future and IMO I feel that we could probably do with some extra cash in the bank at the moment.
I would like to see them use the same amount of Shares that would have been issued under the Loyalty Options put towards another Cap Raise at a price more towards the SP on re-open.
IMO San JORGE will still require a fair bit of work to get it to the same level as Isabel. There seems to be no drill results and (as you mentioned before) no lease there. I am sure Invest is right and workers could be ferried from the current Base of Operations, so that should save some money. However we now need a JORC resource there (ideally IMO) and from that straight to off take operations and product to market. But that (IMO) will still take considerable time (considering we need to define the resource first) and considerable money (getting to a JORC will not be cheap).
So IMO, do another funds raise with the same amount of shares that were allocated towards the Loyalty Options and sell them at or a around current market value and bring in a couple Million to tide us over. Even 30million shares at 0.20cents is still $6Million , and that would go a long way in the coffers.
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Dani Nadri, Country Manager Australia
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