Hope the behind the scenes activity with off-take agreements is...

Hope the behind the scenes activity with off-take agreements is progressing well and that once the DFS is released the project funding can be secured quickly and things can get cracking.

Although the funding pipeline for junior miners is pretty tight at the moment it appears we are entering a strong period for gold and copper prices. I expect that debt funding will be secured on the back of some attractive flat forward hedging (hopefully by Sept - Oct we can see gold back at A$1500).

End of year cash just over $1m with a conservative exploration spend proposed for this quarter. I don't expect that the SPP will raise the maximum of $5m, I think in the current climate anything approaching $2m will be reasonable. If the offer to shareholders does not come up with enough I expect we may see a placement later this quarter.......at least the shareholders were given first bite of the cherry. If the SPP raises top dollars (which seems unlikely) TTR would probably have accelerated Railway and Sheba exploration drilling.