it's a mystery to me, page-4

Doogs - it will be more than missing a few points, I suspect a partner announcement would take us at least back to .51 level. Big risk. What I do like about the cap raise is that SDL is continuing forward as if they already had the partner in the bag - in other words, all the prep work and planning, drilling continues. They have given themselves a lot of wriggle room with investment decision 3rd qtr. I suspect once finance/offtake is announced then it will be quick. So, my guess is that their construction start time may not be adversely affected.

Another thought, given the announcement re LEG, I wonder whether something is cooking with Core Mining's AVIMA as the next possible transport client. They are very very close to Mbalam and have an excellent resource base - not in the league of SDL, but significant. They will need infrastructure as well. Glencore and Severstal have invested in Core heavily. If they came on board as well then we will see some action.