Yes this is a disappointment however what i gather from this is:...

Yes this is a disappointment however what i gather from this is:

- We have a management that are doing their due diligence and are forward thinking to cover all bases, they are exercising good caution to protect company by ensuring they have a secured long enough mill allocation and that it is performed during the correct season.
- Regarding uncertainty about KLG's Cosmo mine i don't see any problem why it would effect or cause impact to extended mill allocation into 2018 as Cosmo and the union reef mill are to be maintained under a state of readiness so is not like KLG is going bust and mill shutting down kind of disruptions.
- Bond money requiring a raising, yeah not really a fan of but there is hope that we could procure a mezzanine finance/loan from one of our board, they had done this previously to my knowledge for $700k odd that was recently paid back throughout the gold loan draw down. This would still now be available perhaps so is not all doom and gloom of a CR and dilution. I think bond is only $1Million odd, or $400k to access the loan for it or something along these lines.
- Price of Gold somewhat irrelevant at this stage as we have a secured gold loan facility in which loan is paid back in set oz's of gold so it is kind of irrelevant what the POG short term does because it doesn't affect or change amount required to pay back. We have also drawn down on this which means we have the working capital to afford and sustain contractor mining of Mt Porter. POG only matters at the end when the excess gold oz are sold which would be the company revenue. The way i see it POG only going to go up the longer term i.e. 6-12months.

latest ann shows that our management are competent to have arranged a contractor, i.e. they haven't been doing nothing and despite the complicated situation they are juggling are actually going about things the right way to secure shareholder value in the company. They are also quick to respond to SH concerns as demonstrated by todays ann.

Cheers and Good Luck