omg more capital raising, page-39

Just a couple of things after discussion with the chief -

1. Stating the size of the remuneration limit on non-executive directors does NOT mean that you are giving them, or anyone, a pay increase. It is a requirement of the company to have a limit set for this and as Sultan had none it had to put down a number. Sultan only has one non-executive director and he is paid very nominally. Sultan is massively conscious of cash preservation here and executive directors take salaries that are much lower than other resource company averages. Sultan board and management’s upside is in share price growth which is where everyone wins...

2. Allowing for “up to $20m of new cash” does NOT in any way mean Sultan is going out to raise new capital. That is a long bow to stretch. See similar resolution in May EGM and nothing done. As stated in the Quarterly Sultan has $4.2m cash and do not need cash short term. This type of resolution is one that many companies do to give themselves flexibility to act in the event that some project of interest came along that is outside the 15% capacity to pay for. It is merely a backstop in that regard and certainly no way, shape or form a new dilutionary factor to worry about.

Sultan board is conscious of adding in maximum value into company before any new capital raising and the board is very conscious of dilutionary factors. Shareholders need to properly read these documents before jumping to all sorts of conclusions and possibly also have some faith in their board. They are shareholders also and therefore dilution, etc, hurts them too and they are not going to give away the farm for nothing.

so @ this stage ,like going to a house auction knowing that the funds are ready to back your buy !!