Ann: Entitlement Offer Acceptances , page-21

I guess that would save $100-$200k every so often. Not much really. Although it could pay for a few bits of machinery needed to mine. I say we go for second hand equipment from a closed mine or go for a lower cost set up like sxg. No doubt Rodney has been to the supplier which is in Vic to have a squizz.

I know raising is a touchy issue atm but how many of you would put money in to buy the equipment and to set up?

Lets say a $20m @.5c raising - $15m for mine(GTS/Kelly/727) and $5m for exploration. Any thumbs up??

That would give us a total around 6b shares. Then consolidate at 1 for 10 or 1 for 15.

I'd rather do this than give half the profits to someone else. Could also try and get a loan for $20-$30m. Working on a profit of $500 an ounce, it wouldnt take long to have it paid back and have money in the bank at the same time.

My short payback theory is working on 20-30,000 oz p/a with approx $1100 cost per oz. Could be 25% less for costs using our own plant. Anyone have expertise in any of this?


My ops


Scorp