msc future, page-12

re: doomsayers way off the mark You guys have no idea. The rights is fully underwritten and will raise ~ $7m. Vic is so confident, he will underwrite as much as he can that is not taken up. Then they have $4m from COMINCO sale to CCG near the end of the year and about $6m in their holding of CCG when that is listed at year end. All up $14m
(17m - 3m in notes) by the end of the year in cash. They are burning cash at $500/mth, so that means 28 months or about 2.5 years to get sales going.
A PIECE OF CAKE.
If there are some gutless wonders out there not willing to take up the rights issue, I'm sure in a years time they will be kicking themselves when sales have picked up and Swan River has been built and is proving to be a bonanza.