Fountain Head and Hayes Creek Project Development
Use of Funds
Gold exploration and Fountain Head Development
To continue with significant activity at the 100% owned Fountain Head gold and at the Hayes Creek
zinc-gold-silver projects
Sources of Funds (up to)
Uses of Funds
NRRI
$4.60m
finalise the Government and Environmental approvals application process, including
installation of water monitoring boreholes
$0.70m
finalise plant and infrastructure engineering, assess suitable second-hand filtration
equipment
$0.55m
continue in-fill and near-mine exploration drilling at Glencoe and undertake regional
exploration
$1.90m
working capital and costs associated with the Offer
$0.95m
finalise the Glencoe acquisition
$0.50m
Total Sources
$4.60m
Total Uses
$4.60m
*Note: the above assumes 100% take-up of the NRRI, if lower then activities will be scaled back
PNZ
METALS
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