Significant re-rating on horizon, page-39

Pretty certain there will need to be a large capital raising before any re-rate is on the cards. At this time the company doesn't have the cash to pay its admin fees until the end of the year, let alone drill any holes for the purpose of a re-rate.

Even when it does have money, it seems to mysteriously vanish in any event, such as all that money spent in Bolivia to only now write-off that prospect and the questionable giving of a US$500,000 (AUD670,0000) loan to Milestone and then "agreeing" over the past 2 years to, rather than have Milestone pay the loan back (plus the interest payable at 7% per year), now accept payment of US$160,000 only. That loan transaction is a loss of US$340,000 (AUD457,000) plus a significant amount of interest on that amount. Not a very smart or appropriate use of funds.