article in bloomberg, page-16

You don't think the fact that there will be further dilution at the project level is already being built into the share price somewhat RVINTL? I'd have to disagree fully with that statement.

As for whether SDL is looking for a deal involving up to 50% of the company or up to 50% of the project, I guess we will have to wait and see. Of some note would be the fact that SDL does hold other tenements/targets that would not come under the umbrella of the Mbalam/Nabeba project, and is in the process of applying for other tenements as well. I would have thought GC would have been experienced enough to use the correct terminology, as up to 50% of the project and up to 50% of the company are completely different things. At this point in time I'd be more inclined to back what he is saying rather than your interpretation of what you think he means. Like I said, we will have to wait and see.