~$100m usd issue underwritten @ $6.50 cdn, page-8

re: increased - now 23 million issued If memory serves me correctly, we have about 31-33 Mill fully diluted issued shares. First Quantum the last time I looked hadabout 60 mill and Golden Star 120+ mill. So it was always on the cards that they would at some point have enough room to have a major equity raising, in Canada without having too much of a dilutionary effect as what happened in Aust.

This will provide the Canadian market with much more liquidity than current, which is not a bad thing, and like Miningnut my T20 holding will probably be nudged out with this dilution. But I will wait and see before making a judgement.

$149.5 million is a huge amount of cash and will pay for both SXEW plants with change. It seems Bill is very keen to be producing cathode copper sooner rather than later.

KKR


I agree with Miningnut, there has to be some more ground or ramped up exploration that will accompany this announcement in the near future. We will have to have a look at the short-form prospectus when it's issued.