Ann: US$23 Million Capital Raising, page-57

I don't think any of these proposed funding deals have really been about funding the company for a future to be shared by current shareholders, the terms are all stacked to the benefit of particular entities and are merely positioning to facilitate the transition of control and ownership. The company will remain underfunded after tranch 1 and the likelihood of tranch 2 happening as it is currently defined is no more than 5%.

If you disagree, consider what simon has actually achieved in his 2.5 years of tenure. He may have improved the roads but even this we have to take his word for. A new mine plan was developed, but would have to considered a complete failure based on problems and performance. MACA weren't identified as a problem until relatively recently but remain a problem still to be fixed. The mill I believe is totally unacceptable, at best it would have to be considered gross incompetence to not have prioritised it's construction from the very start.....What has really been achieved????......With this quality of leadership(?) I find it hard to believe the company has a future......In fact the management performance has been so poor I don't think it is unreasonable to question the motivations of management.