Just to get this thread topic back on track, here is an extract...

Just to get this thread topic back on track, here is an extract from the chairmans report to which he offers a response to this exact question.


In order to provide a financial buffer, mainly against delays in licensing and permitting, the
Company has announced since year-end that it has entered into an agreement with the ANZ
Banking Group for the provision of up to $10M in financing. The loan will only be triggered on
successful completion of the trial mining and processing, and will be drawn down at the Company’s
discretion. Loan documents were finalised and signed last week.

So is the last sentence "saying documents were signed last week' now mean that the trial mining and processing are complete??


In what has been a true annus horribilis for the global gold mining and exploration industry, your
Company’s share price tracked the ASX gold index downwards for the last three quarters of FY 2013,
and continues to do so. Despite the very good progress that has been reported on the trial mining
process, the Company’s sound financial position and it’s prudent, risk-managed approach to
development, the market remains bearish.

****He also refers to their 'sound financial position', so would be interesting to see what they have banked??

Did someone on here say I had an agenda?? lol


Cheers