how many shares on issue, page-2

Hi Skull

Well they now have the funds to do some exploration in WA and continue gold operations in WA for another year or more but nothing for reallly progressing the Young project other than "process development" and in-fill drilling, so I can't help thinking that there are going to have to be a hell of a lot more shares issued on top of the 1,572,511,777 shares already on issue in order to fund any meaningful work or they are going to have to give away a lot of the project to a jv partner.

They say in their quarterly they will need "input" from a partner to do a pilot plant for Young. If one can't be found then they need another issue to raise "$12-$15 million....at the pice of the last issue (which is realisitic in view of the massive dilution involved) that will be an additional 1.2 - 1.5 billion (yes billion -1,500,000,000) shares...ie dilute everyone to half their current interest.

This will be a share capital expanding like Zimbawean currency on issue.

Then of course what do you give away to actually embark on the project itseld, likely to cost hundreds of millions to start, ...assuming the technology works when they have sepnt the $12 -$15 Million.

I recognise that like to many un-mined low grade (and dont' forget it is laterite - like Murrin Murrin) deposits, this one could have potential.

All I am saying is that those people trying to ramp the stock are being a tad over-optimistic about the immediate future...I thought that was my job...to be the optimist...but I'm more of a patient one...it just won't happen for JRV tomorrow or the day after. Day traders beware.