capital raising, page-6

I doubt its a cap raise because another failure to hit close to production target coupled with current SP lows would be a bad management call.

Last quarterly they had $12.3mil cash with planned outflows for this quarter of $18mil

Last quarterly showed sales receipts of $13.6mil, with total costs of $20mil (net negative $6.6mil). This was all based on 8,680ozs.

Since 7th Sept they have been on grid power (saving $500k per month)

In the last quarterly they produced 3,400 in the month of June, so if you extrapolate forward, then 10,200oz should be the minimum expectation. This alone adds $2.4mil using last quarters Platinum price

Head grade is expected to improve from 2.92g/t to c3.3g/t

For mine 11,000 oz minimum with improved Pt, Au & Pd prices should be close to cash flow positive.

Now the big if, is 11,000oz the minimum?

Not willing to punt on this, but anything above 11,000 ounces will make me add considerably to my position. Just waiting for confirmation first.