Ann: Quarterly Activities Report and Appendix 5B, page-25

Just because you don't know of other financing mixes doesn't mean they don't exit.

For instance if the project represents compelling value on a NAV, basis which I believe it does, why couldn't they sell say 30 % to a interested party zinc refiner. That goes some way towards the takeover but with considerably more shareholder value.

I've also written about convertible notes before. There's also mezzanine financing.

I feel some shareholders who are disappointed with SP and delays keep regarding the board as babes in the woods, which they are not. Witness the spin-off of Ardea.

Further I could categorise the delays, as careful sequential handling of the issues. I'm sure it wouldn't be a popular position though. However, in investing, popularity and investment returns tend to be opposing factors. Just ask (the much hyped) Warren buffet.