mineral hill operations update, page-15

$3m CAPEX for Pearse? I've never seen that.. They want to rebuild the gold circuit at the plant and as Pearse is open cut it will also need a pre-strip. Would $3m be sufficient for that?

KBL's October 2012 fact sheet talks about $15m which seems to include gold circuit, SOZ/ESOZ refurbishment, Pearse pre-operations, paste fill and tailings dam.

Seeing as the tailings dam is apparently already being built and paste fill relates to filling underground voids (which relates to current ops), if $3m was all that is required for Pearse then they will have spent a hell of a lot of the $15m. For this reason, $3m is probably not the number, but happy to hear your source.

Raising any money is difficult, and doing it anytime over the past year would be difficult. That was what I meant with my peer comparison.