The latest mining results and commentary indicate that- Mar was...

The latest mining results and commentary indicate that
- Mar was cash positive
- increasing oz pm each month now
- no specific guidance but av about 3k oz pm must be about budget for this current Qtr - this is strongly cash generative, over $1m pq
- $14.3m cash/bullion on hand

MD also said to press last days that that CGT on track to get to 50k oz pa run rate by end of year. At say $1000/oz all up costs that's $30m pa in profits at $1600 gold. Or about 11.5c ps profit. Tax losses mean no tax paid for long time.

So why the need for Placement at a discount to the bid to raise another $3.9m now? CGT should make that much net profit just in next quarter to add to cash pile. It doesn't make any sense unless the aim of Placement was just to give the low ball Lion bid more chance of success.