Thanks for sharing Crabby. So long as the raise is a rights...

Thanks for sharing Crabby.

So long as the raise is a rights issue, everyone gets the opportunity to avoid dilution by participating.

The project is clearly going very well, so I don’t see why shareholders wouldn’t support. I will certainly support a rights issue.

I’d rather they raised a smaller amount now like $1.5m and then as new results are released including scoping study costing, raise again later when the share price recovers.

I’d rather focus all efforts on Bekisopa and get this to production quickly before turning to other projects, notwithstanding there may be minimum expenditure commitments to meet at the other tenements. Tratramarina doesn’t sound like it warrants much work considering the capital costs for this project could be significant to grind the BIF down to 50 microns and it is unlikely to leapfrog Bekisopa in the development queue. To me, this should be funded out of Bekisopa cash flow.

I agree with the interviewer that the low capital path is likely to be more realistic. While I agree Crabby that it’s more preferable to build it properly first time and you would do that in Australia, this is Africa. It’s really not easy getting hundreds of millions of capital for projects in African countries. It’s not easy getting any capital in Africa. That is the reality. I think we will have to start small and fund out of cashflow. Initial capital will be quite expensive and we will need to minimise the capital cost to avoid getting bogged down for a long period of time at the funding step - like HIO are. Our project is suited to the start small and cheap approach having high grade DSO.