Ann: Conventional Prospectivity Review Complete & Icewine2 Update, page-175

Tangiers was binary imo. But DW was apparently quoted at a meeting in Melb suggesting in the event of failure he would have the market cap rectified in 18 months. I back him to be able to keep this thing going beyond a failure at ice 2. It would be painful, but look at the investors that lined up trying to get into the last CR, he asked for 15m and got 25m.

Having said that I think there will be some heavy buying going into spud. If it reaches 10c or more going into ice 2 it would be prudent for him to raise some ashtray money at 8c.