Ann: Gulf Secures A$10.8M Cornerstone Investment, page-7

$16,435,741 worth of heads at todays price 2.3
$11,433,559 worth of options at todays current price 1.6

I'm glad that we now have funding to proceed, but that's a hell of a lot for a $10.8m investment. Wouldn't using the draw facility be better for our interests? Actual discussions please, I don't need to hear what TT200 and rocketboy have to say.

I've no doubts this investor will secure us the DSO given the influence he must have, so that's the positive thing I can take out of this for holders, but 27m for 10.8m is quite a lot.