2.7m in the bank.. no drill ..why raise?, page-3

Ez & SunL,

My understanding is that they have gone to the market at 4.5 cents to allow them the flexibility to tailor their drilling programs accordingly.

A SPP is the best option as it will reward long term holders without issuing stock to intos to dump on market.

Additionally, it is a maximum of 30% of capital for $2m. They may only raise 750k for example.

They will drill Moonta first, then Eyre P, then Rover (if funds permitting) - as it is stated in teh announcement.

Once they hit higher grade at Moonta, this will push teh price up and allow them to raise again at much higher prices.

We need to accept that there will be no news flow until end of the year, by the time they get rigs up there and drill, test, get assay results, then release to market.

The patient holders will be rewarded.

I am looking at participating in the SPP and over the next few months buy on market as the price stagnates around teh 3.5 to 4cents.

Once they release results of high grade copper (and maybe a surpirse annoucenment of Rover 1), this could easily go to 15 cents and the patient holders will be rewarded.

It is also clear that something is happening in teh background and that is why they also needs more cash.

Any thoughts