get ready for 10cents , page-65

1. these blokes should have or should try to sell conrad to mancala for any reasonable amount. Would reduce mancalas exposure to risk by having 100% of the income. $1m bucks anything.

2. Cash burn rate on admin is $360/Q. If they did nothing in the field, they will just make it to production time at Lorena.

3. at some point unless they sell a non core asset, they will need to do a cap raising.

4 The silver / gold price crash closed a window of them of the JV on Conrad and doing a raising cash at much higher levels.

5. problem is everyone wants to sell non core assets.

6. Anything thats not Lorena related or a satellite project should be up for sale.

7. We have got to the rediculous position that this co is trading at a $7.2m fully duluted MC and a $6.3m undiluted MC. when the cash profit at todays price is going to be a min of $4.9m and a possible $7.4m (25k, 800 cost).

8. The JV on conrad tanking and the bullion market colapsing ripped away their ovious near term strategy of pulling it all together and having the oppies in the money.

Now those with the inside knowledge of any cap raising will be able to smack this around at will to benefit themselves.

the only thing to keep all and sundry playing with a straight bat is the Patersons corporate director sitting on the board speaks for a truck load of shareholder and options holders. basically he will be working overtime to pull a rabbit out of the hat to keep everyone happy I should think.

Flux