Dumped, page-147

Painter.

Yes, S32 are paying the bills in Peru but my worry is the piddling amount of money that we have to explore all of our new tenements which management seem so keen to do in Australia.

Look at how much money it takes to run the company for even one year, even without any exploration, and then tell me how much you reckon we can afford to spend on the new tenements to attract large partners.

The likes of S32 will drag us out again and waste our tiny amount of money, and, if not them some other company will do so.
Remember, the company has to stay liquid and so we cannot spend all we have or we won't be liquid.
The way we hope things will go, money wise, never run to script, or they have not in the past anyway.

I cannot see that any company will want to partner with us just on a few rock chips and that is about all that we have at the moment and, if we put down a couple of holes, then that is our money gone whether we hit anything or not.

Management will now be like a kid with his birthday money in his pocket walking past a lolly shop, he will go in for sure and blow the lot.

Their record with money is just so bad.

Lockitt