Belowa are comments from todays AGM by the CEO.
Mentions both the problems of ore processing at Syama and hints(?) at the possibility of some more 'financing'. Not sure this is so good given that I've been told these guys have a history of crashing Preston some years ago.
any comments?
While our operations are each able to meet their own associated exploration and
development costs, the redevelopment of Syama will be a major investment and require
a separate fund raising exercise.
Preliminary discussions have been held with various debt and equity market participants
with regard to the funding of Syama and indications are that at current gold prices we
would be able to arrange a favourable financing package. This would be embarked upon
following a Board decision to advance the project and would likely include a plan for
early access to funds expected from the exercise of the listed options, due to expire in
June 2005.
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syama; to issue more shares?
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