Ann: Unlisted Options Lapsed, page-15

i have mainly options because the value will sky rocket if we get a very good DFS

and enough in reserves to pay back the funding.. we dont need much to payback 7 months - just enough to give enough certainty for the finance brokers DD etc

im sure they are all ready to go pending the DFS - everything takes time but the decision to mine and getting the cash with an IRR of 132% is a no brainer 

even if its March [ sometime this 1/4 ] when the reserves and DFS come out with only a 9 month refurb there is an odd chance of mining in 2019 [ i give it 10% maybe ] but very early 2020 is more likely and will probably have the finance all paid back way before the options even expire in end of OCT 2020

once we get the ball rolling again [actually mining again] - it will go from strength to strength with the open cuts and then there is the massive UG that is currently de-watering so we can drill starting deep and fan out... with some lovely grades there already..

then there is columbia hill and so many others in this massive amount of land we have

low cash re-startup for the open cut makes it so much easier to pull the trigger too

nice to see a few buys recently on the heads and oppies [ p.s the oppies went from .5 to 1.3 in a few weeks - thats a lovely 160% return already for whoever grabbed some then... WOW! ]

wished it was me... but im sure the amount ive got already will keep me very very happy for a long time

good luck to everyone and especially the ones that have been in here for many many years if the original take over offer was agreed at approx $2.50 [ 25 cents pre consol ] then i cant see any reason why after a few years of mining we wont be back up in that neck of the woods or substantially higher once the AISC drops [ making the 30 cents to convert those oppies a no brainer ]