Ann: $15 Million Fully Underwritten Rights Issue, page-10

No, $10m is for Golden Gate and $4m is for exploration. However that could free up other funds to pay down the debt.

The $10m allocated for GG startup and the 27,000oz of reserves recently announced is interesting. If they mine that reserve with a $400/oz (Im guessing this number as it is not provided but it is realistic) it will only just pay back the capital raised. MOY must expect that deposit to keep giving to justify this decision