Tin $28,000 AUD, page-4

yes, agree nk, a capital raising is certainly required, but more and more companies are choosing to do this directly to insto's/sophis investors (ANG raised at 16c and EDE raised at 18c and neither have dropped back to the issue price, despite Lemming's day yesterday) - cheaper and quicker way to raise funds - depends on if funds raised are used for just exploration or to start ordering materials to get the mine underway - a raising and an off-take at the same time could also allow some portion as bank financing, shareholder friendly rather than massive dilution through a single CR.

kind regards, SEAH.