no capital raising required. period., page-4

Right now maybe not. Give it 3 or 4 months IMO.

The consol. loss for CCC last financial years was over $40m. In 2010, it was $28m.

A large $68m spend in two years which is close to today's undil. market cap.

This does not include any debt drawdowns since. I don't listen to the Board or BRRs etc - I look at the fincancials, and if they want to expand further, they need a capital injection IMO. I also have a fair idea how this group operates due to prior experience and in my view they will place monies to UK investors by the end of the year and if not, soon afterwards.

I very much doubt CCCO will be exercised, but they'll be used to entice further investment in rights issues etc.

I may be wrong. Doubt it though as I am convinced CCC are on the acq. trail.