Ann: Turesi Drilling Campaign Now Complete, page-34

•$3,000,000 cash at bank
How long do you think this $3,ooo,ooo will last before more placements/SPP/credit raises?:

1) Turesi -
GPP need to spend a further $710,000 (US$530,000) as per phase 3 of the earn-in agreement but they still have until February 2019 to complete

2) Kopang -
Watts had meetings with government officials? That link you provided doesn't mention Watts or meetings?
GPP need to spend a further $350,000 (US$250,000) for phase 1 - within 6 months after the offical granting of the licence - still waiting for the minister to sign.

3) OHD -
Considering that GPP recently applied for grants for $2,590,000 (PDU 2, Monash funding, feasibility funding for pilot plant) and as these were on a matched dollar for dollar basis, then we can assume that the total cost needed would be $5,180,000!!! for the stated parts of the project.

4) Acquisition -
Option agreement - $25,000
Phase 1 - $510,000 to Ion Minerals & $500,000 exploration works

5) Admin - approx $100k per quarter
6) Exploration Commitments - $105,000 payable within 12 months for 31st December 1/2 year report
7) CTL Commitments - $105,000 from 31st December 1/2 year report
8) Tenements - $157,000 - held as security

Total = $2,095,000 before adding anything to the progression of the OHD project, with only the PDU2 build/set up (discounting funding for Monash) and feasibility funding for the pilot plant at another $1,750,000 we are now up to $3.85M and that is only the phase 1 of Kopang and the Cobalt and a time line of approximately 12 months for all the above....... plus the sundry commitments of another $467,000.
The company is well funded with around $3 million in cash to support the acquisition and maintain its existing portfolio - REALLY!!!!
How long before they come with cap in hand?????

Lets also not forget the dilution associated with all the above - add another 120M shares (again only for phase 1 of Kopang/Cobalt)

The Ashburton project as @Davy Boy has indicated was passed over by Newcrest and Peak resources.
As we had to mention the Lincoln Springs attracting international interest re "Sconi" off take agreement with SK Innovation maybe they can be JV partners?
Yep, we dont mind throwing the international interest term around now do we ???/
The company is currently in discussions with international firms and national grower groups regarding off-take and partnering opportunities.

As for the suggestion of high grades, if/when they drill and get great results then and only then can we claim to have high grades, considering that the rock chip samples from Turesi were some of the highest seen on the ASX. Remember that we will only acquire 70% of Lincoln Springs.

cheers
All IMO only