proposed $16.5m capital raise, page-53

Alex

You were spot on with the capital raising details- well done.

Used to own this pre GFC. Have traded some small parcels since- have been out since February.

The numbers- 50k oz at cash cost under $800 looks fantastic- at gold price of $1600, that is $40 mil cash- that is 7.5c per share on the expanded capitail.

I have followed Bendigo and Ballarat Gold in the past- the numbers always looked sensational BUT they never worked out. Am continuing to watch CGT.