Ann: Shortfall Placement and Appendix 3b , page-8

I would have to agree with your logic generally Ako, not sure what Surge was referring to..

In respect to catalysts required to give the SP a kick, a farm in deal?? No dilution IMHO! We need debt to be confirmed, gold to continue with its underlying bull trend and flat out promotion with brokers etc. Once we have the money, fill a plane up with brokers and give them a few days on the gas and a tour of the area showing the financial credibility the project holds. Spruke the exploration, demonstrate the robustness of the project generally and get the SP up above 30c.

KPNG, I am unable to include the Touquoy West resource in an NPV calculation, as I have no idea about the details that contrive the cost of extraction and consequently assumptions would result in a final number that would be about as close as anybody's best guess.