trading halt, page-16

Of course a placement has to be considered, but to do this with almost 6 million dollars in the bank? IMO very unlikely.

From the March quarterly highlights:

"Application submitted for 350,000 hectare concession covering historic exploration ground in Paraguay. Approval expected in early May."

The quarterly says this region has the:

"possibility of containing several, 20 million pound roll front deposits"

So I'm with macrae on this one.