Ann: Entitlements Issue Prospectus , page-2

Based on a quick look at the prospectus the following can be taken:
- Mining at 727 and GTS could be possible with the intention to generate a cash flow positive operations to fund other operations;
- However, that mining may not occur or be viable unless the Kelly Prospect Reserves can be further defined through drilling in order to meet JORC compliant resource calculation (hence the raising of capital);
- Basically Kelly is where all the eggs in the basket lay and if it is viable then the other steps will fall into place; and
- The 31/12/10 options look shot unless there is a miracle (it is close to Christmas though).

Overall there are some positive signs but as with Pacrim patience is required!