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G28,

Whats done is done. The 15% placement will be finialised this week and the suspension lifted.

Where will the SP finish?

If the SP is smashed down to 9 cents when the suspension is lifted how many faithfuls will:
a) vote in favour of the the further tranche(s)
b) participate if the full raising is approved at a shareholders meeting

Its is my opinion that there are other options rather than raising additional captial. My vote would be to make a smaller SPP to allow current holders to participate at 9c then use the $1m raised to drill and firm up the Grieve project.

ELK still huge upside and the latest preso says that Chemical flood is still viable at current oil prices.

DJ