Patience?, page-38

This is the first step in obtaining alternate financing arrangements, but what would you rather them do, sit on their hands, and keep paying exorbitant interest on a Taurus facility? You'd expect they wouldn't be going down this path unless in can allow consolidation of all debt incl. that which they would need to push the button on phase 2.

I've said this before, but interesting times ahead.....

By mid - late April next year, we'll know:

* What free cashflow Phase I is capable of producing
* Whether an alternative debt facility will do to improve on the current
* Whether funding is secured for Phase 2

If all are positive, it remove the overhang risk of future credit raisings and associated dilution, and provides investors with a clear path to 50-55kt/pa production metric and what the cash that facility will bring in terms of returns.

Gltah