Fundamental Analysis - SYA, page-17

The non binding thing works both ways, if someone comes in and offers to fund the mine we can also change and go with new suitors. Due to our closeness to AJM we would be looked at as more then simply a well placed explorer. Their ability to bring a mine on line and producing will do us well. From what I gather things are coming along nicely over there. This one still has a lot to offer. We are getting closer to a fair value. From there we need some nice juicy fundamentals to continue the rise. It will not be done on hype this time. At least the last rise has got the markets attention and when some nice announcements come along we will gets the gains we deserve.

To the person that said we will need a credit raise by the time we start mining, well that is a given that we will need funding of some sort. It may come in a number of forms but once we start mining our cash levels will not be an issue since we will also be about to make an income. So I personally hope it is achieved mostly through prepayments. Once we also have binding offtakes we will be able to borrow against those. There may be a small buy into the company also. At the current rate of cash burn we should get to a funding stage before we run out of cash. We are still so much further along than just about any other explorer around through our Jorc and PFS, add to that the management experience with AJMs development our risk is quite low in my opinion.

In saying all of this I hope the current MUA moves to a binding situation as the relationship and due diligence is well under way.