the boy who cried wolf, page-3

Gibba,

1) They have not promised anything re: farm in. They are talking to farm in candidates. Thats all they have stated. No promises.

2) Debt finance would be great if they can get it.

3) A placement in August after they ratify the most recent placement is also an option.


Now whatever way they skin this cat, as long as they get the funding for J51 on reasonable terms, I don't really care. Approx $6M - one of the few points I agree on with GO. Debt finance would be the best. Dilution at the asset level (farm in) or company level (placement) at circa 6c/share would also be very acceptable. Much better than the ~3c that was staring back at us 2 weeks ago, and much much better than the 2c that GO was (is?) touting.

Its a bit rich to say that JPR doesn't have the money to drill J51 and will lose the block. Then say they will be lucky to raise money at 2c per share. An now say that any dilution is a rotten deal for holders and there is no wealth creation to be had in JPR.

The boy who cried wolf is an apt name for this thread. The irony may be lost on you.