I approached the company about participating in the private placements and they advised me that they weren't requiring any additional funds. The company has now closed a significantly smaller placement than originally announced that involved two firms from the UK and an American firm. I found it interesting that they chose not to proceed with the full placement amount, but I was happy that there has been less dillution of the shares and perhaps they have identified a different source of capital.

The Ringbolt property will soon have a monetary valuation attached to it with the release of the PEA, up until now it has been anybody's guess as to its value.

It was interesting to see the clause for a  percentage of sales proceeds to be paid to the NAPD group should a sale of the Ringbolt property occur. Could this be the source of new funding? A few on the board have alluded to the fact that the property forms an integral part of the lands that Prospect Global will require for their mine.

Perhaps their will be an offtake agreement to India or China announced once the PEA is in hand and that may be a vehicle for a debt financing.

If the time line holds for the PEA to be released by the end of the first quarter then the next few months should be interesting.

GLTA

Lone Eagle