Hi, Frank,

IMO, there's no need for future financing (the company is fully funded). Another 40 mln $ of financing is already possible through existing scheme with NewMargin Group (see June announcement).

There is real production just starting,  bringing $140 mln a year under present gold price and taking into account a probable (increased) $ 30 mln cost, out of which $100 mln can be available for yearly dividends.

There is also Hong Kong Exchange listing pending. As you may know, HK investors prefer companies with billions of shares issued. We might even need additional split 1:5 ahead of it.

Regards,

Greg