At the time when they did the raise I suggested it was to raise cash on the back of the nugget story and pump the cash into SA. I asked management about that point last year and was told I was wrong, but not before a pause in transmission.
The hope for WWI was the monthly gold production in SA would deliver enough cash to get through and it hasn’t. Did they lie or did the misjudge? I think the latter so let’s move on from the conglomerate story and wait for the underground lic in SA and a big rerate.
Ann: FAU:PILBARA PORTFOLIO- FARM-IN AGREEMENT - TAMBINA GOLD PROJ, page-8
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