i am in at 25c, page-9

well, look at it this way.

By farming it out GSG take the risk, but if they have success we have exposure via a 23.5% stake and a 3% royalty and RAW shareholders don't have to spend a dollar.

But shareholder value is not diluted as there are still only 60m shares on issue. To simply raise $15m our shares would double in number.

RAW acquire the assets and then seek a farm-in partner. They do this with most assets in their portfolio. But they are all strategic assets and leave us with a residual interest.

This all presumes that GSG raise the $2m exploration funds from EP97. But given the past month they'll piss it in.

Just remember the market has RAW at $17.5m market cap based on the year high of 28c. Complete ignorance.

CTP's report on Friday will wake up people to RAW and it's valuation.