Ann: Drilling Results at Nakru1 Demonstrate Major, page-6

re: Ann: Drilling Results at Nakru1 Demonstra... Exactly right. New Guinea needs the cash, they owe $3M in a Con Note, are cash flow negative on their gold mine and in court over unpaid bills to contractor who picked up his equipment and went home. They have sold everything else they own and need $1.5Mpa just for Admin expenses let alone capex for their loss making operation. RS says that PNG boys want more stock then they are prepared to offer well why then hasn't he organised to have them take New Giuneas instead of having them selling down on market? If he can arrange this now post exploration results it would go a long way to restoring my confidence in the overhang and how he runs the company.

Plenty of upside left don't get me wrong. A lot of drilling still to go and sure they still can come up with a large resource. All after a capital raising though is my guess.

cheers