finance, page-41

I think everyone needs to take a deep breath. The way the selling came through particularly late in the day suggested to me someone or a bunch had to get out. I imagine the SP sell off would have scared a few. I looked at the BFS of this project & the finance model & I will repeat I thought it was one of the best junior mining projects I have seen in 15 years of mine finance. The Sandstorm deal is unconventional financing & makes the position for a bank to get involved harder as normally the Sandstorm component would normally be equity which would rank behind debt in regards security. For an Aussie bank to come in they need to be comfortable with this position as well as work alongside Credit Suisse who are running the bank finance. I would imagine if an Aussie Bank is looking at the remaining $25M they will be negotiating hard on margins & hedging to make up for the security position being equal with Sandstorm & CS. So by JG not diluting shareholders by going with Sandstorm it will have made it more difficult to get the last bit of bank finance, however IMO it will still happen & we as shareholders will be better off because of the lack of dilution.