Ann: Kopang Licence and Turesi Update, page-45

I'm happy with the CR for those that are taking it up, (I'm personally not as I was hoping it was OHD related) I still don't think it was enough and I also think they should of waited for some Turesi results. (post 31142722) I honestly believe that they are either going to just put the OHD project on hold (more so if they fail to get the grants) as I think they have some real issues with it, but barring all that if grants are approved then they have to match $, so we will need to CR again? (why I think that as it was apparently over subscribed they should of considered that)

As for Bulseco being the best or only option - not sure as any one of Hartleys/Patterson would assist with a Credit Raising as they make money on them, could be Xcel Capital terms were cheaper?
As for dilution, no one wants their holding to be diluted but at this end of town it is a fact of life, with the amount of funds that has passed through GPP's hands maybe it hasn't been managed too well?
They can pull there heads in with granting themselves "performance options?" until they actually start performing.

There will be a consolidation at some point, but more so down the track as needing a market cap of $100M to get them onto the radars of larger broker houses, this could be achievable with Turesi results and an enticing Initial Exploration Target depending and decent progress on the OHD project.

Updated the spreadsheet for anyone thats interested....... funds aren't as plentiful as first thought?




All the above is IMO only

cheers