I agree with having enough funds in hand to continue the...

I agree with having enough funds in hand to continue the aggressive drilling campaign at pilgangoora.

For me, I believe the first tranche, that is resolution 2 in the issued documents, should provide enough capital to maintain the momentum. Given that we are moving towards production at tabba tabba, and not only that but under 100% ownership, I think this should provide more than enough funds over the life of the mine (18 months). Remember that only a little while ago, management were proposing that funds generated from Tabba Tabba alone will allow the development of Pilgangoora.

I will also provide acceptance for the management options. They've done a great job, and we can't blame them over how the sophs and supposed family members / acquaintances have behaved.

As for the the future of Pilgangoora, I agree with you. I was previously of the mind that we would see this to production, however with the MOU announcement with it's non-committal language and the mention of others that remain interested with additional MOUs expected and it's clear where this is going.

With management confirming that there are interested parties in every continent, you cannot think for one moment that the only MOUs we will recieve will be from Chinese entities. Rather, the Chinese have a ferocious reputation for business and this will do well in increasing the tension and urgency amongst the others remaining. By having two only confirms that the Chinese may be prepared to fight amongst themselves to get there hands on the lithium and tantalum.

As to how this develops, my thoughts are that over the next the next 3 months we may have an idea what is hiding across the full breadth of the pilgangoora tenement. Of course not the final amount, but a decent idea. If we indeed get close to say 60M with expectations of reaching 100M with additional in-fill and step-out this will only increase the feverish discussions within boardrooms.

Others have asked, what market cap I see this eventually at, and again I would have to remain quiet as I really have no idea. The reason why I say this is that the number of interested parties as well as a rapidly dropping Aussie dollar should see a premium much higher than would be normally expected. You only need to look at the metal markets and see that price of lithium has continued to increase, 30 / 60 / 90 / 120 / 180 days are all positive. Over the last 365 days the price of lithium carbonate is up around 12% and I don't see this trend reversing any time soon.

I can easily see an SP of a dollar. That's a certainty in my mind. As to how many expressions of interest we recieve over the next several weeks will force me to revise that number upwards.