why hasnt drilling started yet, page-92

Noble will insist 'our way or the highway'. No drilling, no deal. They don't need the risk.

I've always thought Noble was a 50-50 but more of a carrot to launch an alternative rights issue. I thought Jason was capable of selling the story better, hyping the project. Using the Noble deal to attract outside interest then opting for cr over Noble.

I thought it would play out like that and that would involve a pump before raising. My play was/is to sell into that pump.

Having said that, they are backing themselves into a corner. You can't wait for Noble to walk. You need to sell that cr is better alternative. Not that cr is the only option.

The timing is now or never for a cr. Sp is falling. Wait any longer and the dilution will be horrific.

I would structure it around raising $500k to payback Noble. A further $1mil to payout Celtic. Then some money to prove up JORC. Not the full $10mil from Noble. Pump it and sell it as less dilutive and "rewarding for loyal holders".

I'll exit if it doesn't play out soon. Because if you wait for the siren you've lost.

We need an update on Celtic. Are they converting in 2months which is NOW or will they wait the full term which was only 8months anyway.

Have they started drilling? UPDATE!