the next step, page-117

Great post Simon. Thanks for adding some clarity to some some of smoke and mirror arguments going around whilst we all patiently/impatiently wait for funding announcement. Your post as usual is clearly based on facts and a working knowledge of mining operations.

May I add that the facts as they stand are that management have a number of Terms Sheets on the table to raise the remaining $12M to green light the project. Due dilegence beng performed will determine which option is best for shareholders and decision is expected within next 10 business days.

Stage 1 mine is expected to be highly profitable targeting 3% Cu and has a NPV 97%. Very low cost and high profit operation. With more than one Term Sheet offered and only $12M funding hurdle I see this as, not a matter of if - but when (within 10 business days). However, the market hates uncertainty therefore the SP will be slow to refect its real value. Hence the opportunity for investors.

Raising the required amount of finance is not certain until its fully signed off however, this has got to be very close to it IMO.