Ann: Update on Nicolson's Feasibility Study , page-4

re: Ann: Update on Nicolson's Feasibility... We waited two weeks to be told we have to wait two weeks lol.

A few bids in and management will have seen the feasibility results prior to external review. Hopefully a pre DFS push prior to results.

Funding requirements equity/debt will be interesting along with the Wilson overhang.

I asked Mick if Wilsons would be used again for funding and the answer was no. The company had buyers for the overhang apparently but Wilson didn't want to sell.

Wilson take extra shares at ipo, drip feed them out for months at a loss and don't want to sell - makes no sense to me.

Will be glad to see the back of Wilson and hopefully break higher out of this trading range to minimise dilution when the equity portion of funding is finalised.

MSR (Manas) had good DFS numbers recently but the sp hasn't moved much so no guarantees a positive DFS will light a fire under the sp here.