no news good news? n/c, page-13

re: news - not good news At 2c for 15 mill raising we are talking 750million extra shares on a company that already has far too many. If this is the best GTM can propose because ANZ want all the money now that will leave very little cash for exploration and legal costs to get more gold which is the only way to trade out of this. You could do a part paid issue and stagger the bank payoff but who in hell would underwrite that unless they secured against gold or plant. They can pay the bills if they can mine but they must find more mine life to amortise expenses. Why chariot doesn't look like swiss cheese on all sides to full depth when GTM must have seen this crunch coming is unbelievable. If you are going down you may as well go down with all drill rigs drilling and a busy assay office as with such historical good ground you may strike a shallow resource or extend existing resource to cash up on. The plant should have been ramped up 6 months ago to get ahead on bank payments. Gold recovery accounts or assay or something is not quite right with the way numbers have been brought forward on last reports. I hope they wake up early to lodge rather than do the usual late fax as it is a busy day.