Ann: Feasibility Study Presentation, page-6

A element of luck has been involved with all this, timing wise, if they had released this earlier in the year, sentiment was high and perhaps, they could of pulled of a $15m raise (a good start for what they need), but alas, no such luck. Plus, with hindsight, they should have raised as much as they could back at $0.10, or $0.12, or whatever it was. I know you follow GCY, and without doubt their big raising was a master stroke. It continues to baffle me that so few stocks raise more than they think they need or want.

It will be interesting to see how low this goes, because the project is ok, but... so little cash and unless they get some spectacular drill results in the near term, they are going to have to drip feed the raisings until next year (even mid year).

@yatchy - as for a forward sale, I think it would be too risky, what if they don't get into production on time? and the POG sky rockets higher? I honestly don't know what they should do... the likes of PGO have realised their main project is too capex intensive, so instead bought a small project to develop and toll treat, but... its like treading water.

Any other idea's? (I suppose a merger with another stock, but.. would management be willing to do this?)