th - cap raising - producing jan2011, page-16

processing the tailings is pointless unless you can capture the gold in it, and as pointed out is pretty low cost so it won't be the tailings by itself.

I thought that they would do the HMS first as that would be less capex would drive cashflow and shareprice to then be able to pay for the gold circuit in a way that didn't dilute shareholders so much.

The gold study is ongoing so the question is do we think that they have got to a point where they have the chosen treatment path and are ready to buy the circuit, thus need the cash, or is it still too early.

I think its too early so are betting on a small placement to buy a HMS, although in saying that it seems still too early for the HMS as they only announced it the other day.

so who knows...

Anybody know when the AGM will be and is anybody going to go? I'm keen to go if it falls around the 17th November but have a feeling that it will be later as they have yet to announce it.