Paid Broker Report - 3.2p/share = $72 million AUD, page-28

The gold tenements might be good as a carrot to raise cash but if you look around the African junior explorer space, a lot of them have decent hits but trade at very, very low EV’s (A couple of $mill). The market doesn’t care unless they are looking at multi million Oz, low cost potential when it comes to Africa.

A whole lot of money needs to be spent before coming up with anything meaningful so I think for current shareholder’s sake, a favorable JV deal would be best. Hypothetically; 200 mill shares @ 0.5c raises $1mill. Won’t take long for them to burn that drilling for gold, Haggan and Tiris upkeep and corporate costs. They’ll need to tread very cautious otherwise the death by dilution could really spiral.