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It's time to start inquiring what is to become of all the future free cash flow. Whilst reinvesting it into exploration and Great Cobar is an obvious start, there will come a time when cash accumulation starts to become the next big decision. It will go one of three ways.

1. Aurelia Metals will be taken over it it all just becomes part of a larger corporation and we all get an average capital gain for all our agony,
2. Aurelia Metals becomes a cash cow from long life base metal mines and rewards shareholders with a superior dividend yield over many years.
3. The Board becomes so important that they start acquiring other companies and other projects, reverting back to the squallor and muck of previous years.

I'm sticking with Option 2. Whilst I dont believe Mr Brazil will be looking at a long term yield play, he is not going to give the company away. Everyone needs to get something back as reward for sticking firm. Hopefully the company stays away from debt, accumulates cash and rewards shareholders with interim and final dividends for the forseeable future. Those that want to cash out can hopefully do it at the half dollar mark on a company paying 5-10% yield.

It's nice to be thinking positive at long last. We've all seen the other place and it ain't pretty.