Next big move not far away, page-292

I spoke one on one with Bruce in Melbourne before he give his presentation a couple of months ago.
He agreed with me that issuing shares at low prices was not desirable,
as all it does is dilutes existing shareholders equity,
( including his own),
without raising large sums of money.

I also asked the last question at the end of his presentation
about fund raising for development of the mine,
where he reinforced what I’ve written above.

I doubt there will be any capital raising at current prices.
Given the relative cost of moving to production should be well under $30 million,
raising this money can probably be done from off take agreements,forward sales,
and some loan funds from the banks.

Let’s hope they can move to a bankable document before too much more cash is
required.
And if an issue is necessary, hopefully it can be done at multiples of the
current price so that not huge numbers of shares need be issued.


That way any profits earned can translate to a meaningful earnings per share...
EPS for existing shareholders ...........which then flows on to the market price per share.

Next thing is the AGM at which time we will know more.